Key facts
- PLS Group approved a $1.9 billion expansion of its Pilgangoora lithium mine.
- Production capacity will double to nearly 2 million tonnes per annum by 2029.
- The expansion will also produce tantalum as a by-product.
- Average annual production is expected to be about 1.97 million tonnes of spodumene concentrate over the first 10 years.
- Expected unit operating costs are A$620 per tonne over the first 10 years.
Australian lithium producer PLS Group has approved a final investment decision for a $1.9 billion expansion of its Pilgangoora mine in Western Australia. The P2000 project aims to double production capacity to nearly 2 million tonnes per annum of spodumene concentrate by 2029. This expansion is supported by advances in processing technology that have increased the mine's ore reserve and contained lithium. The company is also investing an additional A$600 million to A$650 million in supporting infrastructure. Despite recent price fluctuations for lithium, PLS Group is betting on long-term demand growth driven by the energy transition and battery storage.