Galaxy Resources flags lithium impairment

Galaxy Resources has flagged a first-half non-cash impairment charge of between $US150 million and $US185 million ($A222 million and $A274 million) as it reviews its flagship project in Western Australia.

The lithium miner attributed the charge to the Mt Cattlin mine project’s development costs related to its acquisition of General Mining.

Galaxy shares were valued at $1.14 before the start of trade on Wednesday.

AAP

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