- Lithium-tantalum producer Pilbara Minerals (PLS) achieved record spodumene concentrate shipments for the December 2020 quarter
- The company shipped just over 70,600 dry metric tonnes of spodumene concentrate to offtake partners during the quarter
- This exceeds the forecast of 55,000 to 70,000 dmt and is a 38 per cent increase from the previous quarter’s 43,630 dmt
- Further, it is well above the previous record of 46,682 dmt of spodumene concentrate which was achieved in the December 2018 quarter
- Pilbara has ended the day 6.95 per cent in the green with shares trading at $1
Lithium-tantalum producer Pilbara Minerals (PLS) achieved record spodumene concentrate shipments for the December 2020 quarter.
The company shipped 70,609 dry metric tonnes (dmt) of spodumene concentrate to offtake partners in the quarter.
This exceeds the forecast of 55,000 to 70,000 dmt and is a 38 per cent increase from the previous quarter’s 43,630 dmt.
Further, it is well above the previous record of 46,682 dmt of spodumene concentrate which was achieved in the December 2018 quarter.
“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 for lithium chemicals in China,” CEO and Managing Director Ken Brinsden said.
“The significant amount of work we have undertaken over the past 18 months in improving lithia recoveries means that Pilbara Minerals is well positioned to respond to a recovery in the lithium market and capitalise on improvements in market conditions,” he added.
Pilbara has also advised shareholders that its retail entitlement offer will close on January 11.
This forms part of the company’s much larger $121 million one-for-7.6 non-renounceable entitlement offer.
Pilbara has ended the day 6.95 per cent in the green with shares trading at $1 in a $2.866 billion market cap.