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Publish Date : 10-Aug-2011

WA lithium miner Galaxy Resources sign a deal with one of the world\'s major battery manufacturers to make electric bike batteries. As per the deal Galaxy will use American company K2 Energy\'s technology to make a lithium battery plant in China. Galaxy has a lithium mine in Ravensthorpe.

Galaxy\'s managing director Iggy Tan said that there is a big market for battery-powered electric bikes. He further informed that we are going to produce something like 350,000 of these e-bike batteries. Each year china produces something like 27 million e-bikes and they tend to be the very heavy lead acid batteries so we see this mass conversion happening in the next few years. We have just signed an MOU for an industrial park in China and we have just commenced a process for environmental approval.

Mr Tan said that adding value to the company\'s lithium will shield Galaxy from variations in the commodity market.

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