Australian lithium producer Pilbara Minerals raised its spodumene output by 4pc on the year to 754,600t in the 2024-25 financial year ending 30 June, after completing the ramp-up of its Pilgangoora lithium plant.
It exceeded the upper end of its 700,000-740,000t guidance range, the company said in a quarterly report on 30 July. Pilbara Minerals plans to produce 820,000–870,000t of spodumene in the 2025-26 financial year, with a unit operating cost of A$560/t – A$600/t, on an fob basis.
The company increased its spodumene production in 2024-25 despite placing its 180,000–200,000 t/yr Ngungaju plant into care and maintenance in late 2024 because of weak lithium prices. It plans to keep the Ngungaju plant in care and maintenance throughout 2025-26.
Over April-June, Pilbara Minerals ramped up and optimised its P1000 expansion project in Pilgangoora. The project was commissioned in January-March. The expansion helped to lower its unit operating costs in 2024-25 to A$627/t ($406/t) on an fob basis, from A$654/t in 2023-24.
But the ramp-up prevented it from producing spodumene at its usual 5.2–5.3pc lithium hydroxide grade, it told investors on 30 July. It sold spodumene with a 5.1pc lithium hydroxide grade in April-June, though output recovered to its usual grade by the end of the quarter.
Pilbara Minerals' average realised spodumene price fell to $672/t in 2024-25, down 43pc from 1,176/t in 2023-24, on a cif China basis. Argus' lithium concentrate (spodumene) 6pc Li2O cif China price also declined over 2024-25, from $1,070/t on 2 July, 2024 to $607.50/t on 24 June. (see chart)
Over April-June, Pilbara Minerals continued to ramp up its lithium hydroxide monohydrate plant in South Korea, which is run as a joint venture with South Korean producer Posco. The company produced 4,365t of the lithium hydroxide monohydrate over the quarter, up from 1,965t in July-September 2024, when it first disclosed quarterly production volumes.
| Pilbara Minerals (spodumene) | 000 t | |||||
| Apr-Jun '25 | Apr-Jun '24 | y-o-y Change (%) | Jul '24 - Jun '25 | Jul '23 - Jun '24 | FY Change (%) | |
| Production | 221 | 226 | -2 | 755 | 725 | 4 |
| Sales | 216 | 236 | -8 | 760 | 707 | 7 |
| Realised price ($/t, cif China) | 599 | 840 | -29 | 672 | 1,176 | -43 |
| Unit operating cost (A$/t, FOB) | 619 | 591 | 5 | 627 | 654 | -4 |
| Source: Pilbara Minerals | ||||||
