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    PLS   AU000000PLS0


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Pilbara Minerals : targets 'mid-stream' lithium chemicals opportunity with Calix

05/11/2021 | 06:04am EDT

Pilbara Minerals (ASX: PLS, or 'the Company') is pleased to announce that it has made further strong progress with its growth and diversification strategy to become a sustainable, lowcost lithium producer and fully integrated lithium raw materials and chemicals supplier.

Following successful initial testwork, Pilbara Minerals has signed an MOU with Sydney-based technology company Calix Limited (ASX: CXL) to jointly undertake a Scoping Study to evaluate a new refining process, incorporating Calix's unique calcination technology to produce a concentrated lithium salt from the Pilgangoora Project (Pilbara Minerals' 'MidStream product') for downstream lithium raw material demand.

Under the MOU, Pilbara Minerals and Calix have agreed to complete a Scoping Study to jointly develop a Demonstration Plant at Pilgangoora, with a view to negotiating and entering a joint venture to build and operate the Demonstration Plant and further commercialise the technology developed.

The proposed Demonstration Plant will likely utilise fine particle, lower-grade spodumene concentrate from the Pilgangoora Project and further process it on site (with electricity generation using renewable energy) with the aim of creating a low-carbon, concentrated lithium salt which could be further refined into lithium battery materials or potentially used as a direct feedstock for Lithium Iron Phosphate (LFP) cathode manufacture.

Calix's unique calcination process is particularly well suited to fine spodumene concentrate feed which provides excellent temperature control, allowing lower grade concentrates to be more successfully treated than traditional calcination methods. Pilot scale test work at Calix's Bacchus Marsh facility to date has demonstrated that the Calix technology was able to achieve >95% conversion of the spodumene ore to an extractable lithium.

Notably, as this process is electrically powered, the Calix BATMn reactor enables the use of renewable energy sources, with the Pilbara region being one of the world's great potential renewable energy regions with its extensive solar (and in certain locations wind) resources. Pilbara Minerals' Managing Director and CEO, Ken Brinsden, said the spodumene supply chain was ripe for innovation as the industry continues to move through a rapid growth phase and downstream industries look for a lower carbon footprint in end-products.

'At the mine, if we can efficiently calcine a lower-grade spodumene concentrate we should also be able to achieve a higher recovery from the ore body, meaning less mine wastage and lower cost. The opportunity to produce a higher-value product in Australia should also allow us to capture more of the overall value in the new-energy industry as it develops.

'By shipping a much higher-value lithium concentrate, most of the waste remains and is handled at the mine site, meaning that our customers are not stuck with the cost of shipping or storing this waste, and providing a material reduction in carbon emissions arising from freight. 'By using an electric calciner, the project should be able to connect to renewable power sources, materially lowering the carbon footprint of the hard-rock lithium raw materials supply chain. Carbon emissions reduction is increasingly important for Australian exports and heavy industry more broadly, both to enhance Environmental, Social and Governance (ESG) performance but also to maintain international competitiveness.

'With promising results from the initial testwork, we will now move to a Scoping Study phase to investigate installing a calciner and a midstream demonstration plant at the Pilgangoora Project to allow the processing of fine, low-grade spodumene concentrate to produce a lithium salt material for export overseas.' Phil Hodgson, Managing Director of Calix, said successful trials over the course of the past nine months have tested spodumene concentrates of different grades and particle sizes. 'This proof-of-concept work demonstrated that the Calix technology was able to achieve >95% conversion of the spodumene ore to an extractable lithium, which is comparable to the conventional rotary kiln process, but with fine and lower grade material.

Additionally, we carried out these runs on our 'BATMn' electric kiln, providing additional proof-of-concept for the technology to be run off renewable electricity, such as a solar and/or wind farm. 'We look forward to working with Pilbara Minerals on this exciting project for the hard-rock lithium industry, and also other mining and processing companies in other minerals to improve their industrial processes, reduce costs and increase their sustainability,' Hodgson said. The 'Mid-Stream Product' Scoping Study will run until late 2021. If the results are positive, Pilbara Minerals and Calix may decide to negotiate and form a Joint Venture (JV) to build and own a small commercial scale Demonstration Plant at the Pilgangoora Project, starting initially with a Definitive Feasibility Study. The contemplated facility is expected to be capable of producing up to several thousand tonnes of lithium salt annually, and the JV will also market and export the product from the facility, 'on-shoring' significant value into Australia and potentially avoiding the international shipping of thousands of tonnes of waste material (>90% of current spodumene exports) overseas.

If Pilbara Minerals and Calix decide to proceed with the Demonstration Plant and it achieves successful operation, the MOU contemplates the JV will then also develop a world-wide commercialisation path for the technology in respect of converting fines spodumene concentrate to value-added chemicals.

Independent from the JV, and assuming the successful operation of the Demonstration Plant, Pilbara Minerals could look to building and independently operating its own commercial scale lithium phosphate operation at the Pilgangoora Project using technology licenced from the JV. This would be a separate business operation from the Demonstration Plant and JV and would use spodumene concentrate sourced from the Pilgangoora Project.

Pilbara Minerals' mid-stream project development (whether as part of the JV or otherwise) will be progressed utilising part (or all) of the unallocated spodumene concentrate production capacity available at Pilgangoora Project over time, without disrupting its important offtake customer relationships and the proposed POSCO downstream joint venture arrangements.


Ken Brinsden

Tel: +61 (0)8 6266 6266


Pilbara Minerals is the leading ASX-listed pure-play lithium company, owning 100% of the world's largest, independent hard-rock lithium operation. Located in Western Australia's resource-rich Pilbara region, the Pilgangoora Project and Operation produces a spodumene and tantalite concentrate. The significant scale and quality of the operation has attracted a consortium of high quality, global partners including Ganfeng Lithium, General Lithium, Great Wall Motor Company, POSCO, CATL and Yibin Tianyi.

While it continues to deliver a low-cost, quality spodumene to market, Pilbara Minerals is pursuing a growth and diversification strategy to become a sustainable, low-cost lithium producer and fully integrated lithium raw materials and chemicals supplier in the years to come. Through execution of this strategy, Pilbara Minerals is positioned to become a major player in the rapidly growing lithium supply chain, underpinned by increasing demand for clean energy technologies such as electric vehicles and energy storage as the world pursues a sustainable energy future.

(C) 2021 Electronic News Publishing, source ENP Newswire

Stocks mentioned in the article
ChangeLast1st jan.
CALIX LIMITED 2.68% 3.06 End-of-day quote.184.65%
PILBARA MINERALS LIMITED 4.57% 2.06 End-of-day quote.136.78%
08/03Australia shares track Wall Street higher, miners boost
07/30PILBARA MINERALS : Results of inaugural bmx auction
07/30PILBARA MINERALS : Completes Inaugural Auction at Digital Exchange Platform
07/22PILBARA MINERALS : June 2021 quarterly activities report advisory
06/25PILBARA MINERALS : Board approves staged restart at ngungaju plant
06/24PILBARA MINERALS : to Resume Ngungaju Plant Operations in December Quarter
06/24Australia, NZ shares rise tracking Wall Street on stimulus boost
06/24Pilbara Minerals Limited Board Approves Ngungaju Plant Restart
06/23ARDIDEN : A$8.7m option exercised to form lithium joint venture
06/23PILBARA MINERALS : Hits High-Grade Pegmatites at Pilgangoora Project
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Sales 2021 186 M 138 M 138 M
Net income 2021 -13,4 M -9,93 M -9,93 M
Net Debt 2021 51,9 M 38,4 M 38,4 M
P/E ratio 2021 -311x
Yield 2021 -
Capitalization 5 977 M 4 406 M 4 430 M
EV / Sales 2021 32,5x
EV / Sales 2022 12,1x
Nbr of Employees 109
Free-Float 82,8%
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Technical analysis trends PILBARA MINERALS LIMITED
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Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 6
Last Close Price 2,06 AUD
Average target price 1,59 AUD
Spread / Average Target -22,7%
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Managers and Directors
Kenneth Edward Brinsden Chief Executive Officer, MD & Executive Director
Brian Lynn Chief Financial Officer
Anthony William Kiernan Non-Executive Chairman
Dale Henderson Chief Operating Officer
Stephen John Scudamore Independent Non-Executive Director
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