Sector and Industry: Lithium Mining and Producer
Pilbara Minerals ASX: PLS is a growing Australian based lithium-tantalum producer. It owns 100% of the Pilgangoora project, which produces hard rock lithium-tantalum, 120km south of Port Hedland, WA. Exposure to PLS also provides good exposure to the lithium market, and its share price valuation is linked to the global lithium price, however its size allows it to withstand volatility. Access our latest research on PLS now.
Production, Operations and Developments
Pilbara Minerals currently only operates the Pilgangoora mining project, and is aiming to grow its current production of 650K tonnes per year to 1 Million tonnes of Spodumene. Spodumene ore is lower value, and needs to be converted into the higher value lithium hydroxide.
Lithium hydroxide, which is the preferred lithium input for battery manufacturing, and is higher value. PLS has entered into a joint venture with S. Korean industrial giant POSCO to build the chemical plants necessary to convert the spodumene into Hydroxide, and capitalise on this opportunity. Read more about ASX lithium stocks and investing now.
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We first rated it as a BUY at 75c in 2017!
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Operations in Western Australia
Located in Western Australia’s resource-rich Pilbara region, the Pilgangoora mining operation produces a spodumene and tantalite concentrate. It utilises the Pilgan Plant, which processes the ore into spodumene and tantalite, and in 2021, it acquired the Ngungaju plant, which produces spodumene only. This development allows the company greater agility in supplying the Lithium market. The significant scale and quality of lithium mining at Pilgangoora has attracted a consortium of global partners including Ganfeng Lithium, General Lithium, Great Wall Motor Company, POSCO, CATL and Yibin Tianyi.
Radar Rating: Buy | Sell | Hold?
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