PLS Group Approves P2000 Project in Western Australia

MT Newswires Live06:08

PLS Group (ASX:PLS) reached a positive final investment decision on its AU$1.9 billion P2000 Project in Western Australia, targeting spodumene concentrate production capacity of around 2 million tonnes per annum, with first production expected in the September quarter of 2029, according to a Friday Australian bourse filing.

The project is expected to generate an incremental post-tax net present value of AU$2.7 billion, achieve an internal rate of return of nearly 30%, and reduce average unit operating costs to about AU$620 per tonne during its first 10 years at steady state, per the filing.

The expansion will convert around 67 million tonnes of previously classified waste into economically recoverable ore and generate over 1,000 construction jobs and around 500 permanent operational roles, the filing said.

The company has also completed a separate underground pre-feasibility study, highlighting additional long-term growth potential beyond P2000, the filing added.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment