Aug 27 (Reuters) - Pilbara Minerals Ltd (PLS) :
- EXECUTES BINDING TERMS SHEET FOR LITHIUM CHEMICALS DOWNSTREAM JOINT VENTURE WITH POSCO
- WILL INITIALLY HOLD A 21% INTEREST IN JV, WITH AN OPTION TO INCREASE TO 30%
- INITIAL 21% INVESTMENT IN JV WILL BE LARGELY FUNDED THROUGH PREVIOUSLY ANNOUNCED A$79.6M CONVERTIBLE BOND AGREEMENT WITH POSCO.
- EXISTING OFFTAKE DEAL FOR SPODUMENE CONCENTRATE WILL BE ASSIGNED TO JV AND INCREASED FROM 240KTPA TO 315KTPA FOR LESSER OF 20 YRS
- US$25 MILLION PRE-PAYMENT TO BE MADE BY JV CO TO PILBARA MINERALS FOR PURPOSE OF FUNDING STAGE 2 EXPANSION OF PILGANGOORA PROJECT
- UNDER JV, POSCO TO HOLD 79% WHILE PILBARA MINERALS THROUGH UNIT TO HOLD 21%
News: PLS Pilbara Minerals Executes Binding Terms Sheet For Lithium Chemicals Downstream JV With...
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