Pilbara Minerals (PLS) has reported a strong June quarter, wrapping up its 2024–25 financial year (FY25) in line or ahead of its market guidance.
The company saw a surge in production during the quarter, delivering 221,300 tonnes of spodumene concentrate. This represented a 77 per cent rise in spodumene production on the March quarter. Likewise, sales rose 72 per cent to 216,000 tonnes.
Unit operating costs fell 10 per cent to be $619 per tonne, while the average realised price fell by 20 per cent to be $US599 per tonne.
This price fall partially offset quarterly gains in production and lower unit costs, equating to a 28 per cent increase in revenue to $193 million for the three-month period.
PLS completed its P1000 expansion project during the March quarter. This improved the lithium and tantalum processing capacities of its Pilgangoora plant in the ensuing months, and contributed to the higher production and lower unit costs.
With FY25 now complete, PLS said it achieved or exceeded earlier guidance in each of three metrics: production volume, unit operating costs, and capital expenditure.
For the financial year ahead, the company will continue its focus on cost control initiatives.
“FY26 represents a pivotal year for the company, focused on unlocking the full value of recent investments through operational excellence, disciplined cost control, and capital efficiency,” Pilbara Minerals said.
“The company will leverage the enhanced processing capacity from recent plant expansions while maintaining a prudent approach to targeted capital deployment to maximise returns in a dynamic market environment.”