Pilbara Minerals produced 176,000 tonnes of spodumene concentrate at its Pilgangoora mine in the December 2023 quarter.
This figure represents a 22% increase from the 144,200 tonnes produced in the previous three months.
“This was achieved through increased availability of processing facilities, with fewer closures recorded in the December quarter compared to the previous quarter,” Pilbara Mining said.
“The company is also seeing the benefit of increased throughput from capacity additions at its main scrap facility associated with the P680 project in December.”
- IAMGOLD shares surge on progress at the Côté gold project
- Capital positive about growth prospects in 2024
- Lancaster Resources Announces Financing
- Diamond imports on the rise in December as mid-stream restocks
Construction of the Project P680 crushing and ore sorting plant remains on schedule and on budget. Start-up is expected to begin in the September 2024 quarter, as commissioning is planned for the June 2024 quarter.
“Civil and concrete works related to the crushing and ore sorting plant have been completed and the contract for the structural, mechanical, piping, electrical and instrumentation installation of the plant has been awarded to Primero,” Pilbara Minerals said.
“The majority of orders with long lead times, including ore sorting units and crushing components, have either been delivered to the Pilgangoora facility or are being held in Western Australia awaiting delivery to site.”
The P1000 project is also on schedule and on budget, with first ore scheduled for production in the March 2025 quarter.
Pilbara Minerals sold 159,900 tonnes of spodumene concentrate at an average estimated realized price of US$1,113 per dry tonne (dmt) ($1,692).
“Following the end of the December quarter, Pilbara Mining made amendments to its existing offtake agreement with Ganfeng Lithium Group Co., Ltd. and its subsidiaries, resulting in a total annual allocation of spodumene concentrate of up to 310,000 tonnes (kilotonnes/year). for three calendar years (CY24, CY25 and CY26),” the company said.
“Under the existing pricing methodology in the agreement, all quantities of spodumene concentrate will be sold at prevailing market prices.”
Pilbara Minerals reported $2.1 billion in cash on hand as of December 31.
