AT A GLANCE: Pilbara Minerals posts big rises in production, sales for Q3

A summary of Australian spodumene concentrate producer Pilbara Minerals' results for the third quarter of 2020, as stated in its operational report on Monday October 12.

In brief
  • Production of spodumene concentrate at the company’s Pilgangoora Lithium-Tantalum project, in Western Australia, increased by more than 80% quarter on quarter to 62,404 dry metric tonnes (dmt) in the July-September quarter.
  • A higher plant utilization rate resulted in lower operating costs averaging $355 per dmt on a cif China basis, the company said.
  • Third-quarter’sales of spodumene concentrate increased by nearly 50% quarter on quarter and in line with guidance provided in the June operational update.
  • Production levels exceed sales in the third quarter, with the company preparing deliveries for contractual customers as of October.
  • The company said sales volumes were up despite persistent weakness in spodumene prices, which was in line with the backdrop of sustained lower pricing across the lithium supply chain more generally.
Key figures for the third quarter (quarter on quarter percentage change)
Production

62,404 dmt, up 80%

Sales
43,630 dmt, up 50%

Dalila Ouerghi

dalila.ouerghi@fastmarkets.com

Published

Dalila Ouerghi

October 12, 2020

13:00 GMT