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World News and Views :: Projects

Galaxy's lithium project faces setback after Korean partner declines to increase its stake

3:52 AM MDT | July 18, 2013 | Natasha Alperowicz

Sal de Vida Korea Corp. (SDVKC) has declined to take up its option to acquire a 30% stake in Galaxy Resources’ (Perth, Australia) lithium brine and potash project in Argentina, citing technical issues concerning the feasibility study delivered by Galaxy.   SDVKC, Galaxy's potential partner in the Sal de Vida project, previously acquired a 4% equity interest in Galaxy Lithium (Sal de Vida) S.A. On 13 April, Galaxy presented a feasibility study to SDVKC. Under the terms of their agreement, SDVKC had 90 days from the date of delivery of the study to...

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