wa1 Chart, page-1254

AFR : Since January, however, short-term prices for spodumene, Australia’s sixth-largest export, have plunged 63 per cent from $US6000 per tonne to $US2200 per tonne.

“The short-sellers are saying we need the market to re-evaluate,” Argonaut’s Franklyn said. “The short-sellers are factoring in a decline in profit this year due to lower spodumene prices, a capital expenditure program bringing Pilbara’s cash on hand down, and in the short term it doesn’t have the growth profile that the market likes.”

On Thursday, Pilbara reported revenue of $493.1 million in the three months to September 30, down from $868 million in the June quarter. The fall reflected a 31 per cent slide in the price received for its spodumene concentrate to $US2240 ($3552) a tonne and lower production.

Operating costs jumped 19 per cent to $747 a tonne as the company pushed ahead with a major expansion at Pilgangoora.

The Niobium rush is on—

Herald Sun: The world’s largest supplier of niobium products, Brazil’s CBMM, is spearheading this space with plans to invest $US80 million in expanding its niobium oxide production capacity from 10,000mt/year now to 40,000mt/y by 2030.

Ferroniobium (an alloy of iron and niobium) is CBMM’s main production and sales area but by 2030, it hopes to see 25 per cent of its revenue coming from non-steel products as part of its diversification strategy.

According to CBMM CEO Ricardo Lima, 41 projects focused on batteries for electric vehicles are in development.

The biggest niobium story on the ASX right now is WA1 Resources.