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Pilbara Minerals, Altura report little impact from cyclone Veronica in March quarter

  • Monday, April 29, 2019
  • Source:ferro-alloys.com

  • Keywords:Pilbara Mineral,Altura,lithium
[Fellow]Pilbara Minerals, Altura report little impact from cyclone Veronica in March quarter

[ferro-alloys.com]Australian lithium producers, Pilbara Minerals and Altura Mining reported only minor impacts from tropical cyclone Veronica, which hit the country's west coast during the period, the two said in separate quarterly reports Monday.

"Mining activities at the Pilgangoora Project continued to progress well (albeit with minor impact from cyclone Veronica late in the quarter), with increased mining volumes from the prior quarter being consistent with the overall project ramp-up plan and requirements for increased ore feed," Pilbara Minerals said in the report.

Total material mined by Pilbara Minerals via its flagship Pilgangoora project was 2.99 million wet mt in the March quarter, up 63% year on year and 2% quarter on quarter.

The project, which had construction completed in July last year and the first spodumene concentrate shipped October 2, sold 38,562 dry mt in the March quarter, down 17% from the October-December period, it said.

Three shipments were completed with one being delayed due to the cyclone, it said.

"The product was a blend of coarse and fines concentrate to achieve contracted grade specification and was shipped to offtake partners in north Asia," it said.

"One of these shipments allowed for the blending of some 'off-specification' concentrate produced early in the commissioning cyclone, which resulted in 9,090 dmt of product grading 5.81% lithia being sold," it said.

Pilbara Minerals received the price for contracted deliveries on an SC6.0 basis at $675/dmt CIF China, it said.

Altura, with its neighbouring Altura Lithium Mine at Pilgangoora, saw the total material mined of 622,929 billion cubic metres during the March quarter, stable compared to the two previous quarters.

"Mining targets were achieved for the quarter despite the time lost to severe tropical cyclone Veronica, which caused some disruption in late March and resulted in a loss of approximately 2,750 mt of production," the company said.

It shipped two cargoes during the period - totalling 14,770 wmt, which was down 40% from the October-December period. Like Pilbara Minerals, Altura also had a cargo delayed because of the cyclone and that was then shipped in the first week of April.

"All cargoes have has been in line with or exceeded customer expectation, with a weighted average of 5.9% Li20, 1.5% Fe203, 1.1% Mica and 5.8% moisture. The average pricing received for these cargoes was $601/dmt," it said.

Altura declared commercial production at the mine in March. At full production, the mine is expected to produce about 220,000 mt of lithium spodumene concentrate/year.

(S&P Global Platts)

  • [Editor:王可]

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