Pilbara Minerals idles its Ngungaju plant from December 2024 as lithium prices slump

PLS (formerly Pilbara Minerals)/Pilgangoora lithium operation

Pilbara Minerals said it would place its smaller Ngungaju plant on care and maintenance from December 2024, cutting FY25 production guidance by about 100,000 tonnes to 700,000-740,000 tonnes. It expected the move to improve cash flow by about A$200M while spodumene prices sat well below 2022 levels.

• FY25 guidance cut from 800-840 kt to 700-740 kt.
• Expected cash-flow benefit about A$200M.
• Ngungaju, bought from Altura Mining, is smaller and less capable than the Pilgan plant.