Australia's Pilbara Minerals gets board nod for final investment decision on lithium plant (updated)

Calix

02/08/2023 01:35

(Adds details of investment and construction in paragraphs 2, 3
and 4)
       Aug 2 (Reuters) - Australia's Pilbara Minerals  PLS.AX 
said on Wednesday that the company and Calix Ltd  CXL.AX  had
received board approvals for the final investment decision on
construction at their flagship Pilgangoora lithium project in
Western Australia.
    Pilbara, the country's largest independent lithium miner,
had earlier said the investment in the Pilgangoora plant would
help increase spodumene concentrate production by 47% to 1
million dry metric tonnes per annum.
    As manager of the joint venture, Pilbara will handle both
the construction and operational phases of the project.
    The Perth-based company said the budgeted construction cost
of up to A$104.9 million ($69.32 million) would be spilt with
Calix in a 79-21 ratio, with the Australian government also
contributing A$20 million.
    The project aims to demonstrate the benefits of producing a
mid-stream lithium-enriched product using Calix's patented
electric kiln technology, which has the potential to reduce
hard-rock lithium processing carbon emission intensity if
powered by renewable energy.
    Successful demonstration of the project may lead to future
commercialisation of the lithium products technology, Pilbara
said in a statement. 
    
    ($1 = 1.5133 Australian dollars)

 (Reporting by Nausheen Thusoo in Bengaluru; Editing by
Subhranshu Sahu)
 ((Nausheen.Thusoo@thomsonreuters.com;))