Ann: Pilbara & Calix enter into Joint Venture Agreement, page-58

https://www.theaustralian.com.au/bu...verage/b7a824b35bcff1e42ee60554033a8d2b#82297

Pilbara, Calix to make plant decision by Sept

3 HOURS AGO
VALERINA CHANGARATHIL

Lithium giant Pilbara Minerals and Calix will make a final investment decision by September next year on a proposed jointly owned demonstration plant in WA.

The parties on Monday agreed to work on a demonstration plant at the Pilgangoora lithium project with the aim of producing lithium salts via a refining process using Calix's patented calcination technology, as well as for the potential commercialisation of the process.
Pilbara Minerals will have a 55 per cent stake in the JV.

After feasibility studies including a work program and budget, the parties will consider the FID to proceed with the demonstration plant, which will require a "supermajority decision of the management committee and essentially the approval of both parties".

If Pilbara approves a FID, but Calix does not, the joint venture will come to an end, but the miner will be entitled to proceed with the project with an exclusive five-year commercial licence.
In opening trade, shares in Pilbara are down 0.8 per cent to $4.42 and Calix is also 1.9 per cent lower at $5.21.