Pilbara sets new record in Dec quarter
PERTH (miningweekly.com) – Lithium miner Pilbara Minerals on Wednesday reported record shipments for the December quarter, with 70 609 t of spodumene concentrate delivered to offtake partners.
The December shipments exceeded the sales guidance of between 55 000 t and 70 000 t previously set.
The ASX-listed miner told shareholders that the record shipments also represented a 38% increase on the September quarter figures, and was well above the previous record shipment of 46 682 t of spodumene concentrate achieved in the December quarter of 2018.
“What a great way to start the new year with record tonnes shipped from Pilgangoora to support increasing customer demand and an upward trend evident in the price of lithium chemicals in China, showing positive signs of a recovery in the lithium raw materials market,” said Pilbara MD and CEO Ken Brinsden.
“The significant amount of work we have undertaken over the past 18 months in improving lithia recoveries, reducing operating costs and refinancing our senior debt facility, together with the impending acquisition of the neighbouring Altura Lithium project, means that Pilbara Minerals is well positioned to respond to a recovery in the lithium market and capitalise on improvements in market conditions.”
Pilbara last year entered into a share sale agreement with the administrators of fellow listed Altura Mining to gain ownership of Altura’s Pilgangoora lithium project, in Western Australia, for $175-million.
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