Galan Lithium (ASX: $GLN) Phase 1 Construction Update

Galan Lithium Limited (ASX: $GLN) has made significant progress in the construction of the Hombre Muerto West (HMW) Phase 1 project. The company has obtained full Phase 1 construction permits and is on track to deliver lithium chloride production of 5.4ktpa LCE in the first half of 2025. Additionally, Galan has secured a binding offtake agreement with Glencore, one of the world's largest globally diversified natural resources companies, for lithium chloride and/or lithium carbonate production from HMW Phase 1.

Executive Commentary

The company is pleased to announce the significant advancements in the construction of the HMW Phase 1 project. The securing of full construction permits and the binding offtake agreement with Glencore mark important milestones in our journey towards becoming a premier lithium developer. We are confident in the progress made and look forward to delivering on our production targets in the coming years.

Summary of ASX Announcement

Galan Lithium (ASX: $GLN) has achieved key milestones in the construction of the HMW Phase 1 project, including obtaining full construction permits and securing a binding offtake agreement with Glencore. The company remains focused on delivering lithium chloride production of 5.4ktpa LCE in the first half of 2025. With a strong local team and solid community and government support, Galan is well-positioned to progress towards cash flow in H1 2025 and expand its production capacity to 60ktpa CE. The company's commitment to environmental, social, and governance (ESG) factors further underlines its dedication to sustainable and responsible lithium production.