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Pilbara Minerals Ltd.
Summary
| Project: | Pilgangoora | |
|---|---|---|
| Deposit: | Pilgangoora | |
| Location: | Australia | |
| Commodities: | Tantalum-Lithium | |
| Date: | 8/3/2018 | |
| Report Code: | JORC | |
| Report Type: | Feasibility Study | |
| Project Stage: | Mine Development | |
| Report details: | 3-8-2018: Pilbara Minerals Ltd. announces a Feasibility Study report for its Pilgangoora deposit at the Pilgangoora project. DFS results incl. post-tax NPV of A$2.160B (10%), 17yr LOM at the project. Australian lithium developer Pilbara Minerals Limited ( | |
| Resources: | (Reserve, P+P): 80.3Mt @ 1.27% Li2O, 123ppm Ta2O5, 1.08% Fe2O3 | |
| CP/QP: | [Resources]: Lauritz Barnes (Trepanier Pty Ltd.) | |
| ABSTRACT: | Australian lithium developer Pilbara Minerals Limited (ASX: PLS) (Pilbara Minerals or the Company) is pleased to announce the results of the DFS for the Stage 2, 5Mtpa (Stage 2, 5Mtpa DFS) expansion of its 100%-owned Pilgangoora Lithium-Tantalum project (Pilgangoora project). The completion of the Stage 2, 5Mtpa DFS is a major step forward in unlocking significant additional value from Pilbara Minerals’ world-class Pilgangoora project in Western Australia, where commissioning of the Stage 1 project is underway. The Stage 2, 5Mtpa DFS has delivered exceptional results and re-affirms the Pilgangoora project’s scale, quality, competitive forecast cash operating costs, robust operating margins, long life and exceptional economic returns. These results, together with the significant potential for increased Ore Reserves, demonstrate Pilbara Minerals’ ability to expand the Pilgangoora project to take full advantage of the growing lithium market. While the DFS has delivered a slight increase in capital costs from A$207M to A$231M and LOM cash operating costs of US$263/t (CIF), the engineering re-design introduces an additional 3Mtpa processing circuit, compared to the 2.5Mtpa contemplated by the PFS. This provides advantages such as additional flexibility in the operation of the plant and the potential for further expansion capacity of the plant over time. The Stage 2, 5Mtpa expansion will be a globally cost competitive operation producing between 800,000 – 850,000tpa of high-quality spodumene concentrate over its 17 year mine life. Pilbara Minerals’ Managing Director and CEO, Ken Brinsden, said “We continue to be impressed by the quality and scale of the Pilgangoora project. The long life of the operation and its ability to deliver a high quality spodumene concentrate at a low cost to market is what sets us apart globally. This and our ability to rapidly scale-up spodumene concentrate production to over 800,000tpa plays perfectly into our downstream value adding strategy of continuing to grow with our customers, and supports the proposed joint venture with POSCO.” | |
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