Generic Hero BannerGeneric Hero Banner
Latest market news

Pilbara Minerals eyes more Pilgangoora lithium output

  • Market: Battery materials, Metals
  • 21/06/24

Australian mining firm Pilbara Minerals has started a feasibility study into raising spodumene production capacity at its Pilgangoora operations in Western Australia.

The P2000 expansion project will more than double Pilgangoora's output capacity to over 2mn t/yr, the firm said today. Pilbara forecasts Pilgangoora's output to average around 1.9mn t/yr of 5.2pc grade spodumene in the first 10 years after the P2000 expansion is completed, with production starting from 2028, if it does go ahead.

Pilbara estimates A$1.2bn ($798mn) of capital expenditure for the project, which includes building a new ore flotation plant but excludes the extra capital expenditure needed for the mine to support the expansion. The firm approached Australian federal government financing agencies for the project's funding, which it said provided non-binding letters of support for "up to A$400mn" after the initial engagement.

"The timing of the P2000 Project will be subject to the successful outcome of the next level of feasibility study, project approvals and the market outlook at the time of the financial investment decision," said the firm.

The feasibility study is expected to be completed in October-December 2025, but the firm remained cautious about assuring a final investment decision (FID). Any FID decision needs to come after the study outcome, said managing director and chief executive Dale Henderson. "That's more than a year away, which is frankly an eternity in the lithium industry."

The P2000 project will come after the firm's P680 and P1000 projects, which Pilbara Minerals has decided to plough ahead with. The P680 and P1000 projects would raise Pilgangoora's output capacity to 1mn t/yr.

The firm earlier this year defended its lithium downstream strategy and is exploring building a downstream conversion plant with Chinese refiner Ganfeng.


Sharelinkedin-sharetwitter-sharefacebook-shareemail-share

Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

News
11/02/25

Mexican auto exports slow in January

Mexican auto exports slow in January

Mexico City, 11 February (Argus) — Mexico's light vehicle exports fell by 14pc in January from a year earlier as uncertainty over US trade policy raises questions over prospects for exports going forward. Automakers in Mexico shipped 219,414 units in January, with 84pc bound for the US, according to statistics agency Inegi data. January exports declined by 17pc from December. Meanwhile, production edged up by 2pc to 312,257 units in January from a year earlier, while domestic sales rose by 6pc to 119,811 vehicles. Still, domestic sales dropped by 18pc from December. The mixed performance signals a sluggish start for the sector in 2025, following a record-breaking 2024 , when Mexico produced 3.99mn autos and exported 3.49mn. "While the industry continues to grow, it does so at a slower pace," said Guillermo Rosales, president of Mexican retailer association AMDA. Investment in Mexico's auto sector slowed in November and December, reflecting lower producer confidence and expectations of slower economic growth in 2025, Rosales added. AMDA forecasts 1.53mn auto sales in 2025, up by 2.2pc from a year earlier. But should the US impose a proposed 25pc tariff on Mexican vehicles, the forecast falls to 1.48mn sales. Inegi reported 10,881 electric (EV) and hybrid vehicles sold domestically in January, a 36pc annual increase. But sales fell by 30pc from December, marking the segment's first monthly decline since August. Automaker association AMIA said EV and hybrid production jumped by 60pc to 169,929 units last year. While AMIA did not report January figures, an Argus analysis of Inegi data shows production of four of Mexico's five EV and hybrid models reached 16,034 units in January, up by 86pc from December. Inegi did not separate production totals for the Wagoneer S EV and its internal-combustion counterpart, although AMIA reported 4,726 units produced in 2024. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Find out more
News

China’s BYD to add DeepSeek AI to its affordable EVs


11/02/25
News
11/02/25

China’s BYD to add DeepSeek AI to its affordable EVs

London, 11 February (Argus) — China's largest electric vehicle (EV) maker BYD on Tuesday announced plans to integrate software from AI start-up DeepSeek into 21 of its models at no extra cost, including one model under $10,000. All models with the God's Eye advanced driver assistant software (ADAS) will come at no extra cost, chairman Wang Chuanfu told an event livestreamed from Shenzhen. Chuanfu said autonomous driving would no longer be a rarity but a "necessary tool", one that will become an "indispensable tool like safety belts and airbags" within a few years. BYD said it would offer advanced autonomous driving features on all of its 18 models priced above 100,000 yuan ($13,686). The carmaker will also include AI on three models below Yn100,000. BYD had previously only offered ADAS on models above $30,000, in line with US EV maker Tesla, which has similar features on its EVs priced above $32,000. The system includes remote parking and autonomous highway navigation. Smart driving features in EVs require Argus -assessed metals such as gallium — in gallium nitride — and germanium in semiconductors. AI growth and data centre demand is expected to increase the use of compound semiconductor materials including gallium nitride, gallium arsenide and indium phosphide. BYD sold around 4.2mn EVs last year in China — including battery EVs (BEVs) and plug-in hybrid EVs (PHEVs) — dominating the domestic market of 11mn EVs, up by 40pc on the year (see graphs) . DeepSeek integration threatens exports The integration of AI into BYD cars is the latest indication that competition in the Chinese EV market is hotting up, although several market participants fear that the integration of DeepSeek AI may threaten sales into export markets, particularly the US, where there is antipathy towards Chinese AI. Chinese EV maker Leapmotor, partner of carmaker Stellantis in Europe, launched its own smart-driving EV on Tuesday priced under Yn150,000 ($20,535), using its own AI. Prior to BYD, the cheapest affordable EV with comparable smart driving features was SAIC-GM-Wuling's $15,000 Baojun Yunhal model. Other Chinese EV makers have also announced integration of DeepSeek technology into their models. Chinese carmaker Geely Group — parent to brands such as Volvo and Polestar — announced that it will integrate the DeepSeek R1 model into its EVs, alongside its own Xingrui AI model, which it announced that it was training last month. It has largely distinguished software in its Geely brand The future of EVs is an "electric intelligence vehicle", Pan Jian, co-chair of CATL , the world's largest battery maker, said at the World Economic Forum last month, with intelligence fast becoming inseparable from EVs. By Chris Welch Global EV battery installations 2023-24 GWh Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

CME north EU HRC curve softens on US duty


11/02/25
News
11/02/25

CME north EU HRC curve softens on US duty

London, 11 February (Argus) — North European hot-rolled coil (HRC) futures prices softened today, as the market digested the imposition of 25pc US tariffs on all imports. During the London morning, March traded at €622/t in the broker market on CME Group's north European HRC contract, down from €633/t last Friday. April traded at €627/t, down from the last trade also at €633/t, before slipping to €625/t at 13:43 GMT. February traded at €602/t, a premium of €8.62/t to the month-to-date average of Argus' underlying north EU HRC index, at €593.38/t, with 13 trading days still remaining. On the CME screen, March traded down by €13/t to €620/t, while July nudged down by €2/t to €645/t. The US accounts for around 15pc of EU HRC exports and it takes another 1.3mn t across cold-rolled coil, hot-dip galvanised and tinplate, based on January-November 2024 data. It took over 683,000t of tinplate in the first 11 months of last year, from Germany and the Netherlands. The new US tariff, applied without exemption, could redirect tonnes to the EU, although the safeguard review will address this to some extent from 1 April. The tariff strengthens the case for an EU melt-and-pour clause against Chinese steel, and a meaningful revision to quota volumes, sources said. By Colin Richardson Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Rain shuts Australian copper, fertilizer rail line


11/02/25
News
11/02/25

Rain shuts Australian copper, fertilizer rail line

Sydney, 11 February (Argus) — Torrential rains have shut Australia's Mount Isa rail line, which links phosphate and copper mines to the Port of Townsville in Queensland, with no reopening timeline in place. "The North Coast and Mount Isa rail lines have suffered severe damage with approximately 177 defects found so far," rail operator Queensland Rail (QR) said on 10 February. But the company has not yet examined parts of the line because of safety concerns, QR told Argus , preventing it from coming up with a reopening plan. Mining firm Glencore's Mount Isa copper and Australian manufacturer Incitec Pivot's Phosphate Hill fertilizer mines use the line to move commodities from production sites to the Port of Townsville, for export or distribution to other parts of Australia. Australian mining firm Centrex also uses the line to ship phosphate rock from its Ardmore phosphate project. Wet weather forced the Port of Abbot Point, located just south of Townsville, to close from 31 January to 5 February . The Port of Townsville remained open throughout that period, despite large parts of the city flooding. Incitec Pivot's Phosphate Hill plant is also currently facing non-weather-related challenges. The company lowered the mine's forecast production by 7pc to 740,000-800,000t for the 2025 financial year to 30 June, because of gas supply challenges. Argus ' MAP/DAP fob Townsville price was last assessed at $620-640/t on 6 February. By Avinash Govind and Tom Woodlock Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

News

Trump imposes new tariffs on steel, aluminum


11/02/25
News
11/02/25

Trump imposes new tariffs on steel, aluminum

Washington, 10 February (Argus) — US president Donald Trump today imposed a 25pc tariff on all US imports of steel and aluminum effective 12 March, although he said he would consider making an exemption for imports from Australia. In remarks to reporters at the White House Trump complained that many of the steel and aluminum tariffs he imposed since 2018 have been moderated or reduced for some countries. Currently Australia and Canada can export any steel and aluminum they want to into the US without tariffs, while Mexico can export steel melted and poured in the US-Mexico-Canada (USMCA) agreement region into the US without tariffs, while any material with an origin outside of USMCA is subject to 25pc tariffs. "Our nation requires steel and aluminum to be made in America, not in foreign lands," Trump said. "It's 25pc without exceptions, and that's all countries, no matter where it comes from, all countries." But Trump, prompted by reporters, confirmed that he may make an exemption for Australian-sourced steel, after Canberra threatened to take reciprocal measures. "We have a surplus with Australia, one of the few," Trump said, referring to an overall trade surplus the US runs with Australia. "And the reason is they buy a lot of airplanes." Trump said he spoke with Australian prime minister Anthony Albanese earlier today. "I told him that [steel tariff exemptions] is something that we will give great consideration." A similar exemption for the UK is unlikely since the US already is running a trade deficit with that country, Trump said. Trump contended that his initial volley of tariffs in 2018 led to the creation of hundreds of thousands of jobs in the US and boosted economic growth. A 2019 study from the Federal Reserve Board that was updated in 2024 estimates that taking into account retaliatory tariffs, there was a net decrease in US jobs and economic growth from the tariffs. US oil and gas midstream companies were among the industries hit by the 2018 tariffs, which led to higher costs for pipeline steel. Most steel imports from non-tariffed US steel imports are heavily reliant on the countries that are currently not subject to US tariffs, with their volumes making up 80pc of the 26.2mn metric tonnes (t) of steel products imported in 2024, according to US Department of Commerce data. Steel tariff rate quota (TRQ) systems are in place for Argentina, Brazil, the EU, Japan, South Korea and the UK for steel products, with specifics dependent on the country. The CME Midwest hot-rolled coil (HRC) futures market jumped today, after Trump said on Sunday he would impose new tariffs, by $51/short ton (st) for March to $856/st, while April increased by $48/st to $858/st. Steel costs would rise by $6.38bn based on the $25.5bn value of 2024 steel imports from those nontariffed countries, if volumes remained the same. Those higher costs would lead to more US steel mill price increases, with one buyer expecting another round of price increases coming soon from US steelmakers. Steelmaker Nucor has increased its published hot-rolled coil (HRC) spot price by $40/short ton (st) in the last three weeks to $790/st. Other steelmakers like ArcelorMittal USA, Cleveland-Cliffs, and US Steel are at $800/st offers for their spot HRC. Canada key aluminum supplier In the aluminum market, the US imported over 6mn t of products in 2024, according to customs data. Canadian aluminum exporters currently have no restrictions on their volumes into the US. They shipped the highest volumes into the US and are responsible for an even larger share of primary aluminum imports. Current US primary aluminum smelting capacity, excluding idled operations, is around 795,000t/yr, which equaled less than one-third of Canadian imports and one-fifth of total imports. There are multiple idled primary aluminum facilities and a greenfield plant currently under construction, but observers and company representatives challenged the feasibility of idled plant restarts in the past. TRQ systems exist for US aluminum imports from Argentina, the EU, and the UK. By Haik Gugarats Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more