Australia's PLS Group rises on $1.3 billion Pilgangoora expansion approval

Pls

16/10/2026 24:27

** Shares of PLS Group PLS.AX rise as much as 6.1% to A$3.150, their biggest intraday pct gain since August 24
** Diversified miner approves a final investment decision for the A$1.9 billion ($1.31 billion) P2000 expansion at its Pilgangoora operation in Western Australia
** Says the project will lift spodumene concentrate production to about 1.97 mln tonnes per annum over the first 10 years of steady-state operations
** Co expects first production from the project in the September quarter of 2029
** PLS also revises FY27 capital expenditure guidance to A$1.11 bln-A$1.18 bln to incorporate the expansion and related infrastructure spending
** YTD, stock down 25.4%, including the session's moves


($1 = 1.4455 Australian dollars)

 (Reporting by Paridhi Minda in Bengaluru)
 ((Paridhi.minda@thomsonreuters.com;))