https://www.miningweekly.com

Pilbara draws-down Pilgangoora funding

15th March 2018

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

Font size: - +

PERTH (miningweekly.com) – Lithium developer Pilbara Minerals has completed the first draw-down from its $100-million senior secured bond, advancing the Pilgangoora lithium/tantalum project, in Western Australia.

The company has now drawn down nearly 50% of the total $100-million bond issue, having satisfied all conditions including a cost-to-complete test and project equity being fully spent on the Pilgangoora project.

“This is another significant milestone for the development of the Pilgangoora lithium/tantalum project as we continue to advance rapidly towards project commissioning and the start of production next quarter,” said Pilbara MD Ken Brinsden.

“The bond proceeds provide all of the funding now required for the completion of construction, plant commissioning and first production at Stage 1 of Pilgangoora, ensuring that we remain on track to achieve our timeline with the construction and delivery of this world-class project.”

Plant commissioning at Pilgangoora is expected to start in the second quarter of 2018 and production of first spodumene concentrate is planned for late in the second quarter of 2018.

The Stage 1 project at Pilgangoora will be a two-million-tonne-a-year operation, producing an average of 314 000 t/y of 6% spodumene concentrate and 321 000 lb/y of tantalite, over 36 years.

Edited by Creamer Media Reporter

Comments

Showroom

VEGA Controls SA (Pty) Ltd
VEGA Controls SA (Pty) Ltd

For over 60 years, VEGA has provided industry-leading products for the measurement of level, density, weight and pressure. As the inventor of the...

VISIT SHOWROOM 
AutoX
AutoX

We are dedicated to business excellence and innovation.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Mining Weekly Editor Martin Creamer
Copper shares soar and green hydrogen goes digital
26th April 2024
Magazine cover image
Magazine round up | 26 April 2024
26th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.161 0.201s - 106pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: