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Thursday, October 28, 2021 6:15:31 PM
PARTICIPATE IN DOWNSTREAM LITHIUM CHEMICALS FACILITY
AGREEMENT PAVES WAY FOR DEVELOPMENT OF A 43KTPA JOINTLY OWNED LITHIUM HYDROXIDE
CONVERSION FACILITY IN GWANGYANG, SOUTH KOREA, WITH COMMISSIONING EXPECTED FROM
SEPTEMBER QUARTER 2023.
KEY POINTS
• Incorporated joint venture (JV) in South Korea agreed between Pilbara Minerals
and POSCO to jointly construct and operate a 43ktpa LHM primary lithium
hydroxide chemical processing facility (Conversion Facility).
• JV supports Pilbara Minerals’ strategic objective of becoming a fully integrated
lithium raw materials company and diversifies the Company’s global customer
base providing exposure to the rapidly growing South Korean lithium chemicals
market.
• Pilbara Minerals will initially hold an 18% interest in the JV, funded largely from the
previously announced A$79.6M Convertible Bond Agreement with POSCO.
• Call option granted to allow Pilbara Minerals to stage its investment to increase its
JV interest to 30%, for a period up to 18 months after the successful ramp up of the
Conversion Facility.
• Amended Offtake Agreement to supply 315ktpa of spodumene concentrate to the
Conversion Facility at market pricing for the lesser of 20 years and the life of the
Pilgangoora Project.
• JV to provide US$25M offtake pre-payment facility to Pilbara Minerals to fund
general working capital and future expansions at the Pilgangoora Project.
• Conversion Plant to play integral role in POSCO’s supply chain and business
strategy as it becomes a major battery materials supplier to global markets
http://www.pilbaraminerals.com.au/site/PDF/10a8e50d-e409-4c8e-912e-77c57fa63fef/PilbaraMineralsFinalisesAgreementsforPOSCODSJV
If THEIR IS ONE THING I AM SURE ABOUT IS I AM USUALLY WRONG
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