PLS signs two-year spodumene offtake with Canmax, with a US$1,000/t floor and US$100M prepayment

PLS (formerly Pilbara Minerals)/Pilgangoora lithium operation

PLS agreed to supply Chinese battery-materials maker Canmax with 150,000 tonnes a year of spodumene concentrate for two years, with an option to extend by one. The deal sets a price floor of US$1,000 per tonne with no cap and includes a US$100M interest-free prepayment repaid through deliveries.

• Volume 150,000 t/yr; PLS can adjust supply to demand.
• Floor price US$1,000/t (SC6 basis), no upside cap.
• Supply from the Pilgan plant, Ngungaju or both, starting in 2026.