Ann: POSCO Pilbara Downstream JV Secures Debt Facility, page-8

“We are delighted that the Joint Venture has secured this debt funding from leading Korean banks on commercially favourable terms, positioning the POSCO Pilbara JV Company to complete construction and commissioning of its new 43ktpa lithium hydroxide chemical conversion facility in South Korea.

“Construction of this world-class facility is already well underway, with the first train of 21,500 tonnes per annum scheduled to start commissioning from late this year, followed by commissioning of the second 21,000tpa train in the March 2024 Quarter.

“Our 18% interest in the POSCO Pilbara JV (with an option for Pilbara to increase to 30%) represents a key element of Pilbara Minerals’ downstream processing strategy, enabling the Company to become an integrated lithium raw materials company. “Building on our strong relationship with POSCO, we are delighted to be jointly establishing a strong foothold in South Korea’s emerging battery materials industry at the door step of established major battery manufacturers.”

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So
1. there's a heap of lithium that will be going directly to South Korea battery industry.
2. PLS now becoming integrated at most steps of lithium raw materials.
3. Probably will enhance chances of becoming double plant size you'd think.
4. Will be up and running by end of this year.
5. 18% share, option to get 30% share. How much revenue from that?

Not a great day to announce, but another key step you'd think.