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Pilbara Minerals sports higher output and lower costs

19th January 2023

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Lithium miner Pilbara Minerals has reported 10% higher quarter-on-quarter production in the three months to December, with sales prices rising 33%.

Some 162 151 t of spodumene concentrate were produced in the December quarter, up from the 147 105 t produced in the September quarter, with shipments increasing from 138 249 t to 148 627 t in the same period.

The average realised spodumene concentrate sales price for the December quarter was up by 33% on the September quarter, from $4 266/t to $5 668/t, while unit operating costs were down by 5%, from A$612/t to A$579/t.

During the quarter under review, the Pilbara board approved A$38.3-million in pre-final investment decision (pre-FID) funding for the P1000 expansion project, to increase total production capacity at its Pilgangoora project to one-million tonnes a year. The company is targeting the completion of a feasibility study to pave the way for an FID on the P1000 project during the March quarter of this year.

In the meantime, construction of the P680 expansion project continued during the quarter. Once completed, the expansion is expected to increase the combined total production capacity for the Pilgangoora project to approximately 640 000 t/y to 680 000 t/y.

In late December, Pilbara Minerals revised the capital cost estimates for the project from the A$297.5-million originally anticipated to A$404-million, saying the increase in the cost estimate related largely to increased cost of materials and equipment, acceleration costs to maintain the project delivery schedule, increased quantities of work as a result of engineering being further progressed, as well as additional trade labour hours being required for construction in the current labour market compared to the base estimates applied in the FID.

The company on Thursday told shareholders that it remained on target to achieve the P680 expansion project schedule for both facilities.

Commissioning of the Primary Rejection facility is targeted for the September quarter of 2023 with full capacity targeted for the December quarter of 2023, resulting in an expected additional 100 000 t/y of spodumene concentrate production from the Pilgan plant once ramp-up is complete.

Commissioning of the new company-owned crushing and ore sorting facility is targeted for the December quarter of 2023, with ramp-up in the March quarter of next year. This facility will be capable of processing up to 5-million tonnes a year of ore at the Pilgan plant, supporting further process improvements and concentrate quality. This facility is also critical to supporting the P1000 Expansion Project that could ultimately deliver production of one-million tonnes a year of spodumene concentrate.

Edited by Creamer Media Reporter

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