Name and Location
Pilgangoora lithium/tantalum project, Australia.

Client
Pilbara Minerals.

Project Description
A prefeasibility study (PFS) has confirmed the technical and financial viability of a two-million-tonne-a-year mining and on-site processing operation at the Pilgangoora project near Port Hedland, in Western Australia.

The PFS includes an initial maiden ore reserve of 29.5-million tonnes grading at 1.3 lithium oxide, 134 parts per million tantalum pentoxide and 1.18 iron (III) oxide.

The mine and processing plant are expected to deliver 330 000 t/y of spodumene concentrates and 274 000 lb/y of tantalite.

Following conventional openpit mining and delivery to the run-of-mine pad, ore will be processed to concentrate the lithium and tantalum streams.

Concentrates will be transported in bulk or in certain instances, some technical grade produced might be bagged for shiploading and delivery to downstream customers.

Net Present Value/Internal Rate of Return
The project has a post-tax net present value, at a 10% discount rate, of A$407-million and an internal rate of return of 44%.

Value
Preproduction capital expenditure is estimated at $184-million.

Duration
The PFS envisages plant commissioning from the fourth quarter of 2017.

Latest Developments
The definitive feasibility study on Pilgangoora started in January and is on track for delivery in the third quarter of 2016.

Key Contracts and Suppliers
None stated.

On Budget and on Time?
Not stated.

Contact Details for Project Information
Pilbara Minerals, tel +61 8 9336 6267 or fax +61 8 9433 5121.