Pilbara Minerals May Double Lithium Output From Australian Mine
- Approval would be vote of confidence in battery metal’s prices
- Shares slump in Sydney after announcement to lowest in year
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Lithium pure-play Pilbara Minerals Ltd. is considering plans to double output of concentrate from its major Australian project, citing confidence that prices in the key battery metal have stabilized after 2023’s slump.
The company is looking to expand concentrate production to about 2 million tons per annum over the coming years, pending a final investment decision on its A$1.2 billion ($800 million) plan, it said in a statement Friday. A smaller expansion to lift output to 1 million tons is already under construction.