Energy & Critical Metals
A big year for lithium
It was a significant quarter for the industry, with Pilbara Minerals seeing a leap in lithium sales, while 29Metals shored …
Australian Mining.
It was a significant quarter for the industry, with Pilbara Minerals seeing a leap in lithium sales, while 29Metals shored up its position.
Pilbara Minerals
Pilbara Minerals closed the year with a significant increase in spodumene production and sales.
The company reported a 10 per cent increase in the production of spodumene concentrate for the quarter, up to 162.8 thousand tonnes (kt). This brings the company’s financial year production to 620.1kt, an impressive 64 per cent increase on the previous financial year. This was largely driven by improvements in processing.
Sales increased 22 per cent to 176.4kt for the quarter, and 68 per cent on the previous financial year. Revenue dropped 18 per cent for the quarter thanks to a dip in the price of spodumene, but this was balanced by a total $4 billion in revenue for the financial year, representing an increase of 238 per cent on the previous year.
The company advanced the P680 and P1000 expansion projects at its Pilganoora lithium mine in WA.
The $560 million P1000 project includes an expanded concentrator plant with increased throughput, as well as supporting infrastructure. Spodumene concentrate production capacity is expected to rise by 320,000 tonnes per annum (tpa).
The P1000 project will be executed alongside the ongoing P680 project, which aims to add an additional 100,000tpa capacity to Pilgangoora.
The combination of these two assets is expected to raise spodumene concentrate production from 580,000 tonnes per annum (tap) to 1,000,000tpa.
The project is expected to reach full production by September 2025.
29Metals
29Metals spent the quarter strengthening the position of its assets. The company conducted major debottlenecking projects at its Golden Grove mine, enabling future production growth of both copper and zinc, as well as driving down production costs.
Among these works, constraints on milling rates were lifted after a lift of the mine’s tailings storage facility.
Restart works remain on track at the company’s Capricorn copper mine in Queensland, after torrential rain flooded the site in March.
Partial mine restart is on track for mid-August this year.
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