P1000 Expansion Green Light
Pilbara Mineral is pleased to share the Board’s decision to approve the expansion of the P100 Project. This Financial Investment Decision (FID) is a historic milestone for our organisation and delivers on the promise we made to our shareholders many years ago.
This investment supports our long-term growth strategy to increase production capacity at the Pilgangoora Project in-line with market demand. Once the P100 Project is commissioned and ramped up, our production of spodumene concentrate will increase to 4.92Mtpa.
Managing Director and CEO Dale Henderson said the announcement marks a key milestone in the future of Pilbara Minerals as production lifts to meet the growing demand of lithium products.
“This reinforces the exceptional scale and quality of our Pilgangoora Project, which is one of the few hard rock lithium production operations globally that has both the resource size and an existing operating platform to enable a rapid scale-up of production,” Mr Henderson said.
“From the outset, our long-term growth strategy has been to develop each stage with a focus on tailoring production to meet demand, while also planning for future expansion opportunities. The P1000 Project increases our nameplate production capacity by approximately 47%, driven by continued strong demand for our product, and leverages the planning and ongoing work being undertaken as part of the current P680 Expansion Project.”
Pilbara Minerals will be self-managing the delivery of the P1000 Project. Long-lead procurement has commenced as part of the pre-FID expenditure announced in December 2022, will continue to be undertaken prior to the award of key contracts.
The P1000 Project also includes upgrades to the Pilgan Plant’s concentrator and a range of supporting infrastructure, along with an expansion of the Tambrah Camp. Completion is expected by the March Quarter of 2025, with production ramp-up by the September Quarter of the same year.
You can read the ASX announcement here.