Pilbara Minerals Limited (Pilbara Minerals or the Company) (ASX: PLS) is pleased to announce record shipments for the December Quarter 2020 (the Quarter) of 70,609 dry metric tonnes (dmt) of spodumene concentrate delivered to offtake partners.

This exceeds previous sales guidance for the Quarter, which forecast shipments to be in the range of 55,000 to 70,000 dmt of spodumene concentrate.

This record achievement represents a 38% increase on shipments for the previous quarter (43,630 dmt of spodumene concentrate for the September Quarter 2020) and is well above the previous shipment record of 46,682 dmt of spodumene concentrate achieved by the Company in the December Quarter 2018.

Pilbara Minerals' Managing Director and CEO, Ken Brinsden, said: 'What a great way to start the New Year with record tonnes shipped from Pilgangoora to support increasing customer demand and an upward trend evident in the price for lithium chemicals in China, showing positive signs of a recovery in the lithium raw material market. 'The significant amount of work we have undertaken over the past 18-months in improving lithia recoveries, reducing operating costs and refinancing our senior debt facility, together with the impending acquisition of the neighbouring Altura Lithium Project, means that Pilbara Minerals is well positioned to respond to a recovery in the lithium market and capitalise on improvements in market conditions.'

Contact:

Ken Brinsden

Tel: +61 (0)8 6266 6266

ABOUT PILBARA MINERALS

Pilbara Minerals is an Australian lithium-tantalum producer and a top-300 company on the Australian Securities Exchange (ASX: PLS). Through the development of its 100% owned, Pilgangoora Lithium-Tantalum Project (Pilgangoora Project), the Company is positioned to become a major player in the world's rapidly growing lithium supply chain, underpinned by the electric vehicle and energy storage markets.

Located in Western Australia's resource rich Pilbara region, the Pilgangoora Project hosts one of the world's largest hard rock lithium-tantalum deposits and is recognised as one of the most important new sources of lithium raw materials globally. The Pilgangoora Project's significant scale and outstanding quality has not only resulted in a remarkable development timeline, with Pilbara Minerals having progressed it from first drill hole to production in under four years, but also attracted a consortium of high quality global partners including Ganfeng Lithium, General Lithium, Great Wall Motor Company, POSCO, CATL and Yibin Tianyi.

Now that production is underway, Pilbara Minerals is focused on an expansion and diversification strategy to become one of the biggest and lowest cost lithium producers, and a fully integrated lithium raw materials and chemicals supplier in the years to come.

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