This is the latest from the Company
PROPOSED POSCO JV
• JV term sheet signed with POSCO in Aug 2019 to jointly develop a 40ktpa (LCE) LiOHdownstream processing facility in South Korea
•Pilbara Minerals to initially hold a 21% interest in the incorporated JV, with an option toincrease to 30%
• A key strategic relationship which enables participation in the rapidly developing SouthKorean lithium ion battery market and achieves Pilbara Minerals’ objective of becomingintegrated downstream
• Includes POSCO’s PosLX purification technology which produces LiOH and lithiumcarbonate
• 315ktpa SC offtake to be sourced from Pilgangoora Stage 2 expansion to support theJV’s downstream processing facility
• Subject to final investment decision on Stage 2 expansion, as well as respective partiesboard approvals and execution of formal JV documentation
• Should the JV partners decide to proceed, Pilbara Minerals expects to fund its initial 21%investment into the JV through an unsecured A$79.6M convertible bond to be provided byPOSCO
Cheers whisky
Good News & Bad News, page-6275
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