Pilbara board OKs A$214m Pilgangoora lithium mine
PERTH (miningweekly.com) – The board of lithium developer Pilbara Minerals has taken a final investment decision on the A$214-million Pilgangoora lithium/tantalum project, in Western Australia, with first spodumene and tantalite concentrate shipments scheduled for the second quarter of 2018.
“This is huge milestone, which marks the beginning of Pilbara’s transformation into a leading global lithium producer. The final investment decision follows hard on the heels of our recent successful fundraising, reflecting our determination to deliver the Pilgangoora project as quickly as possible,” said Pilbara MD Ken Brinsden on Friday.
Pilbara recently raised A$80-million through a share placement, as well as completing a $100-million bond issue. A planned share purchase plan is expected to raise a further A$15-million.
Brinsden said on Friday that following the capital raisings, the company was firmly set on the path to near-term production, against a backdrop of accelerating demand for lithium raw materials.
“We look forward to playing an important role in this new, exciting and rapidly growing industry.”
The project is expected to produce an average of 314 000 t/y of 6% spodumene concentrate and 321 000 lb/y of tantalite, over a mine life of 36 years. All project approvals were already in place.
The project is estimated to have a post-tax net present value of A$709-million and an internal rate of return of 38.1%. It is expected to generate life-of-mine revenues of A$9.23-billion.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.
VISIT SHOWROOM
Rittal is a world leading provider of top-quality integrated systems for enclosures, power distribution, climate control, IT infrastructure and...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
