Pilbara Minerals Pilgangoora production and sales update

Company News

by Anna Napoli

Pilbara Minerals (ASX:PLS) has announced record production at its Pilgangoora Lithium-Tantalum Project in Western Australia.

The Company’s strong focus on optimising production at the site has continued, with record production of 22,375 dry metric tonnes (dmt) of spodumene concentrate achieved during May.

Plant throughput and utilisation have been in line with expectations, resulting in consistent production growth month-on-month in the year to date.

Pilbara Minerals says current spodumene market conditions in China are being tempered by delays in the construction, commissioning and ramp-up of chemical conversion facilities that handle spodumene concentrate supply while spodumene concentrate pricing has also continued to soften.

Due to the market dynamics and following discussions Pilbara Minerals has decided to moderate production from Pilgangoora until the end of July to allow time for customer facilities to continue to ramp-up.

Shares in Pilbara Minerals (ASX:PLS) are trading 8.87 per cent lower at $0.64.

Anna Napoli

Finance News Network
Anna joined FNN February 2018 and also works with Channel 7 as a freelance producer. Anna has also worked as a lawyer and lecturer. She has also presented news updates for interstate news with Southern Cross Austereo.