Pilbara Minerals Secures a new long-term offtake partner for its Pilgangoora Project

  • Mar 25, 2020
  • Team Kalkine

Pilbara Minerals Limited (ASX:PLS) has signed a five-year offtake agreement with Yibin Tianyi for 75,000tpa of high quality spodumene concentrate from the Pilgangoora Project. The first shipment of 20kt of spodumene concentrate was already completed in March this year, with a second shipment targeted for late April/early May 2020.

The company delivered a continued supply of spodumene concentrate to China and South Korea during the March Quarter despite the global impact of COVID-19.

However, the demand is expected to be affected as end-use demand is expected to remain soft due to COVID-19 in the near term.

At AEDT 01:05 PM, the stock was trading at $0.160 per share, up by 10.345% from its previous close.

There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.

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