Pilbara Minerals to slash spending after full-year profit plummets

seekingalpha08-26

Australia's Pilbara Minerals (OTCPK:PILBF) reported Monday an 86% drop in its annual underlying profit after tax to A$318M (~US$216M), citing lower average realized sales prices for lithium. The miner...

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The miner...</p>\n\n<a href=\"https://seekingalpha.com/news/4143687-pilbara-minerals-to-slash-spending-after-full-year-profit-plummets\">Source Link</a>\n\n</div>\n","source":"seekingalpha","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Pilbara Minerals to slash spending after full-year profit plummets</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nPilbara Minerals to slash spending after full-year profit plummets\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-08-26 21:02 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://seekingalpha.com/news/4143687-pilbara-minerals-to-slash-spending-after-full-year-profit-plummets><strong>seekingalpha</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Australia's Pilbara Minerals (OTCPK:PILBF) reported Monday an 86% drop in its annual underlying profit after tax to A$318M (~US$216M), citing lower average realized sales prices for lithium. The miner...</p>\n\n<a href=\"https://seekingalpha.com/news/4143687-pilbara-minerals-to-slash-spending-after-full-year-profit-plummets\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"MTX","symbol_name":"Minerals Technologies Inc","start_time":0,"source_url":"https://seekingalpha.com/news/4143687-pilbara-minerals-to-slash-spending-after-full-year-profit-plummets","article_id":"2462990683","we_media_id":null,"thumbnails":["https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1320780002/image_1320780002.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2462990683","pubTimestamp":1724677375,"sourceInfo":{"source_id":"seekingalpha","name":"Seeking Alpha"},"weMediaInfo":null,"summary":"Australia's Pilbara Minerals  reported Monday an 86% drop in its annual underlying profit after tax to A$318M , citing lower average realized sales prices for lithium. 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The miner said it will cut capital spending for the current financial year to A$615M-$A685M from A$865M in the 12 months through June 2024, although a mine and concentrate plant at its Pilgangoora project are on budget and remain on track for completion in FY 2025. Two additional growth projects will be placed on hold until commodity prices recover, CEO Dale Henderson told Bloomberg in an interview. The projects include the Salinas lithium mine in Brazil and a planned further expansion at Pilgangoora which would make it the world's biggest lithium mine; Salinas was recently acquired as part of Pilbara's (OTCPK:PILBF) purchase of Latin Resources for A$560M. 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