(Bloomberg) -- Lithium pure-play Pilbara Minerals Ltd. is considering plans to double output of concentrate from its major Australian project, citing confidence that prices in the key battery metal have stabilized after 2023’s slump. Most Read from BloombergAt Blackstone's $339 Billion Property Arm, the Honeymoon Is OverCDK Tells Car Dealers Their Systems Will Likely Be Down for DaysCar Dealerships Across US Halt Services After CyberattackUnited Airlines Jet Turns Back After Engine Piece Falls O
Australia's Pilbara Minerals said on Thursday it has accepted a pre-auction offer for a shipment of 5,000 dry metric tonnes (dmt) of lithium spodumene concentrate cargo from a group of registered auction participants. The shipment was made available for sale to a group of registered participants prior to the auction on Pilbara's Battery Metal Exchange (BMX), which had been scheduled for March 18, it said in an exchange filing. Australia's biggest independent lithium miner has now allocated most of its supply for the year, it said, and future spot sales on the BMX exchange are unlikely.
Lithium miner Pilbara Minerals said on Tuesday it has signed an agreement with Sichuan Yahua Industrial Group for the supply of spodumene concentrate from its Pilgangoora operation in Western Australia. Spodumene is a mineral with a high concentration of lithium, a key component in the production of batteries for electric vehicles. Pilbara has agreed to supply the mineral at market price in an agreement signed for three years, the company said.