Pilbara Minerals sees no end in sight to the lithium boom as it cashes in with a maiden full-year profit of $561.8 million.
Lithium producer Pilbara Minerals says it is poised to cash in on an “incredible market” as manufacturers continue to scramble to shore up supplies of the battery mineral.Pilbara Minerals managing director Dale Henderson: “If we could produce more, they would take more.”It was a massive turnaround on last year’s $51.4 million loss and came as sales revenue jumped by 577 per cent to $1.2 billion.
Pilbara Minerals shipped 361,035 tonnes of spodumene concentrate in 2021-22, up from 281,440 tonnes last year. The company received $US2382 per tonne for its spodumene concentrate – a big jump from mid-2020 when the same product fetched closer to $US410 per tonne.Pilbara Minerals managing director Dale Henderson said it had been an incredible year for the company as it capitalised on surging demand for lithium from battery makers and car manufacturers.
“ inquiries continue thick and fast from new customers. The most vivid example is our Battery Material Exchange which continues to be heavily contested, and long may that continue.
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