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Monday, May 2, 2022 - 13:07:45
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Mining News Pro - Surging global demand for lithium raw materials has led to a positive outcome during the March Quarter of 2022 for Pilbara Minerals.
With work programs progressing to increase spodumene concentrate production at the Pilgangoora Project in WA, yields for the period hit 81,431 dry metric tonnes (dmt), within previous guidance provided of 75,000 – 90,000 dmt.
Production was, in part, impacted by the rising instance of community transmission of COVID in Western Australia during the quarter, which reduced the availability of staff and contractors. With COVID expected to continue to affect operations through the June period, there remains some uncertainty regarding production levels through to 30 June.
Despite these impacts, FY22 annualised production guidance has been maintained in the range of 340-380,000 dmt.
The report came as Pilbara Minerals completed its fourth Battery Material Exchange auction on its digital platform, which was launched last year.
Strong interest in platform participation and bidding within a 30-minute window resulted in a highest bid of $US5650 per tonne for a 5000t cargo, more than doubling the amount fetched in the previous auction held last October.
Ship loading is expected from mid-June 2022.
Pilbara Minerals envisages that auctions will be held on a more regular basis as Ngungaju production continues to ramp up and more uncommitted tonnes become available.
The company said pricing received on the BMX sales trading platform was indicative of the critical shortage that exists in respect of lithium raw material supply.
It said the sale further differentiated the emerging spot-market for spodumene sales, as compared to the typically longer-dated offtake sales arrangements, and highlighted how well Pilbara Minerals is placed to participate in this market and outperform its peers in respect of sales price received.
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https://www.miningnews.ir/En/News/621197
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