Good News & Bad News, page-11172

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Pilbara Minerals is the largest, independent hard rock lithium mining company in the world.With a market capitalisation over $6B. Pilbara Minerals has 100% ownership of the world-class Pilgangoora Lithium-Tantalum Project – the largest independent hard-rock lithiumoperation in the world. The Pilgangoora Project hosts one of the world’s largest hard rocklithium-tantalum deposits and is recognised as being within the most important sources oflithium raw materials globally. Located in Western Australia’s resource-rich Pilbara region,the Pilgangoora Project’s high-grade lithium resource, valuable tantalum by-product,outstanding scale and flexibility supports a low-cost operation. It is one of the onlyoperating lithium assets with available offtake globally.This has enabled it to attract a consortium of high quality global offtake partners includingGanfeng Lithium, General Lithium, Great Wall Motor Company, POSCO and Yibin Tianyi. Inaddition, Contemporary Amperex Technology (Hong Kong) Limited (CATL) China’s largestbattery manufacturer for electric vehicles is now one of Pilbara Minerals’ largestshareholders. The Company has a flexible operating regime, with two separate processingfacilities offering the potential for a multi-stage expansion and significant optionality torespond to customer and market requirements.Pilbara continues to grow and for FY22, the company plans to increase the Pilgan Plant’sthroughput capacity to achieve targeted production of up to 380,000 dmtpa of spodumeneconcentrate, and restart the recently acquired Ngungaju Plant targeting annual fullproduction capacity of an additional 180,000 to 200,000 dmt of spodumene concentrate –both significant developments for the future.