- Pilbara Minerals (PLS) has entered an agreement with GLX Digital to launch a digital sales and trading platform
- Under the platform, buyers will be able to purchase spodumene concentrate from Pilbara’s Pilgangoora Project in WA
- The platform will give Pilbara an additional sales avenue and interested parties access to current and future spodumene concentrate
- The platform will outline a timeframe for the sale of cargo and in the case of an auction, potential buyers will be able to anonymously bid on the product
- Pilbara has ended the day a slight 1.40 per cent in the green with shares trading at $1.09
Pilbara Minerals (PLS) has entered an agreement with GLX Digital to launch a digital sales and trading platform.
Under the platform, buyers will be able to purchase spodumene concentrate from Pilbara’s Pilgangoora Project.
The Pilgangoora Project lies 120 kilometres from Port Hedland in Western Australia and is considered one of the largest hard rock lithium deposits in the world.
The platform will give Pilbara an additional sales avenue and interested parties access to current and future spodumene concentrate.
Spodumene is a pyroxene mineral that consists of lithium aluminium inosilicate.
It is a source of lithium and used in ceramics, mobile phones and car batteries.
The platform will outline a timeframe for the sale of cargo. In the case of an auction, potential buyers will be able to anonymously bid on the product.
“With significant growth in the battery raw materials supply chain now expected, the introduction of our battery material exchange trading platform should position Pilbara Minerals well to maximise its participation,” CEO and Managing Director Ken Brinsden.
“Creating a digital marketing and sales platform represents a logical evolution for the industry and we are pleased to be working with GLX Digital to lead the industry,” he added.
Pilbara has ended the day a slight 1.40 per cent in the green with shares trading at $1.09 in $3.114 billion market cap.