The Pilbara will soon have the biggest Lithium mining operations in the world and Pilbara Minerals will be to the commodity what Rio Tinto is to iron ore, says the company's managing director Ken Brinsden.
Pilgangoora is likely to operate at costs of about $US200/t with the price of lithium concentrate sitting at $US800-$US900/t, representing a healthy margin.
But Mr Brinsden said he expected demand to outstrip supply in the short to medium term, pointing to the potential for higher prices for the company's product.
Pilbara Minerals will export about one shipment of spodumene concentrate a month from the middle of next year, while the company continues talks with potential buyers around a direct shipping ore product and an offtake agreement for its tantalum product.
It is also exploring the potential of moving further along the downstream processing chain to produce an even higher value, higher margin product such as lithium carbonate.
Pilbara Minerals announced this week it had two new discoveries on its existing tenements, likely to expand the company's existing resources further.
"The more we drill, the more we find," Mr Brinsden said.
Wow.
Did the market miss the announcement of 2 new discoveries last week? DSO still on. Staggering margins. Expectations of higher prices. The Rio freakin Tinto of lithium?
Wow.
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