Thanks for all the interesting research here everybody, particularly yours @SimonGr .
Much appreciated
Cheers
https://thewest.com.au/business/min...ged-231m-pilgangoora-expansion-ng-b881271354z
“Pilbara Minerals saves with staged $231m Pilgangoora expansion
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Stuart McKinnonThe West Australian
Friday, 26 July 2019 6:55AM
Stuart McKinnon
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Part of the processing plant at Pilbara Minerals’ Pilgangoora project.
Pilbara Minerals will stage the $231 million expansion of its Pilgangoora lithium project to lower the upfront capital required and give customers time to ramp up their chemical processing capabilities.
“Subdividing” the stage two development, which would lift throughput capacity from 2 million tonnes a year to 5mtpa, will also give the company more time to find a cashed-up partner to take an equity stake in the project.
Speaking after Pilbara released its June quarter report yesterday, managing director Ken Brinsden said the company did not want to bring on “big chunks” of mine capacity before the equivalent chemical capacity of its customers came online.
Pilbara advised last month it would curb production because its customers were struggling to bring their new battery chemical plants online as quickly as they had expected.
Mr Brinsden said it had been a punishing period for Chinese chemical converters because of changes to the local subsidy regime, which had been difficult for the industry to digest.
“The combination of the construction, commissioning and ramp-up of those plants has fundamentally taken longer than anyone would have expected,” he said.
Lithium prices have continued to fall and Pilbara has had to stockpile about 50,000 tonnes of concentrate.
But Mr Brinsden remained bullish about lithium in the longer term and noted though production would slow to 35,000-48,000t during the September quarter, it would increase to 65,000-80,000t in the December quarter.
“It’s pretty much universally agreed ... a lot more lithium raw material has to come out of the ground,” he said.
“The evidence keeps growing that the electrification of the transport industry is going to happen.”
He said the company would use the production slowdown during the period to upgrade and optimise its plant.
Meanwhile, shares in another lithium producer, Alita Resources, tumbled 3¢ to 10¢ after it advised of a cashflow squeeze amid rising stockpiles on lumpy sales to its sole Chinese offtake partner.”
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