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Pilbara Minerals sells rights and plans to restore lithium products factory
Australian News on April 4, 2019 at 11:50

Pilbara Minerals CEO Ken Brinsden. Net map
(Shenzhen, Sydney) Lithium mining company Pilbara Minerals has taken action to sell up to 49% of its flagship project, the Pilgangoora lithium mine, and to take out a plan that has been sealed, or to build a fifth lithium in Western Australia. Chemical manufacturing plant.

It has commissioned the investment bank, the Macquarie Group, to look for the above-mentioned buyers, and when it sold half of the rights to the Wadgina mine near the flagship asset in November last year (selling $1.15 billion), McKayley served as a consultant.

Pilbara Minerals sought partners to assist in the expansion of the second and third phases of the plan (which required $457 million) to increase the annual production of spodumene polymers to 1.2 million tons. In addition, it is also interested in partnering in Pilgangoora, or elsewhere in Western Australia, or overseas to build a chemical manufacturing plant.

With a market capitalization of 1.28 billion yuan, it will consider a series of transactions, including an acquisition agreement for the 216 million yuan third phase expansion. At present, the customers of the second phase of the expansion financing arrangement include Jiangxi Haofeng Lithium Industry, South Korea Pohang Steel and China Great Wall Motor. It has a joint venture option to build a lithium chemical manufacturing plant with Pohang in South Korea, which can produce up to 40,000 tons of lithium carbonate per year, using spodumene from Pilgangoora.

According to Ken Brinsden, managing director of Pilbara Minerals, the sale is already underway, as interested companies include lithium ore processors, battery manufacturers, trading companies and mining companies, as well as companies that feel missed opportunities in the Wodgina sale.