Pilbara Minerals shareholders back strategic growth and sustainability initiatives

Pilbara Minerals Limited (PLS) announced that all resolutions proposed at its 2025 Annual General Meeting were passed without amendment. This included the re-election of Mr. Nicholas Cernotta as director, approval of the remuneration report, and proposals for employee share plans. Key operational highlights for FY25 included record annual production of 755kt, implementation of the P850 operating model, and rebranding to PLS. The company also commissioned the world's largest lithium ore sorter and expanded production capacity via the P1000 Project.

Financially, PLS maintained a robust balance sheet with FY25 sales of 760.1kt, revenue of $769M, and unit operating costs of $627/t FOB. Underlying EBITDA reached $97M, with total liquidity at ~$1.6bn. The company achieved an estimated cash flow improvement of ~$230M in FY25 through ongoing cost reduction initiatives and capital discipline. Strategic investments included the acquisition of the Colina Project in Brazil and key milestones in the South Korean lithium hydroxide JV plant.

Looking ahead to FY26, PLS priorities include unlocking Pilgangoora's full potential, maintaining growth readiness, and advancing its chemicals strategy. Upstream, the Ngungaju Processing Plant is expected to remain in care and maintenance, providing flexibility for future production increases, while the P2000 feasibility study progresses. In chemicals, the Mid-Stream Demonstration Plant is on schedule for completion in the December Quarter 2025, and the joint downstream partnering study with Ganfeng has been extended to December 2027.