Australian lithium producer Pilbara Minerals plans to increase its spodumene concentrate production to an annual rate of 560,000-580,000mt by mid-2022, up by about 6pc compared to the previous year.
In its annual report for FY2021, the miner said that it aims to ramp up processing at the Pilgan plant by 30,000-50,000mt from the current capacity of 330,000mt per annum. Over the next few years, it will aim at a nameplate capacity of 800,000-850,000mt of ore processed annually. Pilbara is planning these steps in line with the growing demand for lithium from the electric vehicle industry and will closely monitor forthcoming market conditions. It also plans to restart its Ngungaju plant by the end of 2021, targeting 180,000-200,000mt per annum at the facility.
In the full fiscal FY2021 (ending June 31, 2021) the company produced 281,098mt of lithium concentrate, referred to as spodumene. This is triple the amount compared to 90,768mt produced in FY2020. In FY2021, shipments doubled to 281,440mt from 116,256mt in the prior fiscal. Pilbara’s revenue in FY2021 grew to $175.8mn over $84mn in FY2020 while its net loss reduced to $51.4mn from $99.2mn in the prior fiscal.