Study delivers 2mtpa expansion option – highly accretive

21 June 2024

Pilbara Minerals is pleased to release the outcomes of a pre-feasibility study which determined that production capacity at the Company’s 100% owned Pilgangoora Operation could be expanded to more than 2.0 million tonnes per annum (Mtpa). Such an expansion is expected to result in the first ten years of annual production averaging ~1.9Mtpa, with production of more than 2Mtpa over the first six years after ramp up. The expansion project will be named the P2000 Project (P2000).

Pilbara Minerals’ Managing Director and CEO, Dale Henderson, said:

“This study follows the 35% reserve upgrade to 214Mt announced in August last year. The growth of the reserve, and the optionality to incrementally expand production, further reinforces Pilgangoora’s position as a Tier 1 asset of global significance.”

“This expansion is expected to provide an average 1.9Mtpa production for the first 10 years and more than 2Mtpa over the first six years after ramp up. The scale benefits of this expansion will further build on Pilbara Minerals’ position as one of the major leading lithium suppliers globally.

“The next level of feasibility study will now commence with expected completion in the December Quarter CY25. As we have done in the past, the timing of the FID will be considered in conjunction with prevailing market conditions and only proceed when it makes sense to do so. In parallel to the feasibility study, the Company will consider the full suite of opportunities associated with this expansion including funding, offtake strategy and downstream partnerships.”

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For those of you who missed our shareholder presentation this morning you can watch a replay below.