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Pilbara Minerals Provides Results of Second BMX Auction

14 Sep 2021  |  19:14:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Results of Second BMX Auction

Pilbara Minerals provided update to the market on the results of the Company's second spodumene concentrate digital auction held via its Battery Material Exchange (BMX) on 14th September 2021. As with the inaugural auction, there was interest in both BMX platform participation and bidding within the auction. The Company intended to accept the bid of US$2,240/dmt (SC5.5, FOB Port Hedland basis) for the intended 8,000dmt cargo. On a pro rata lithia basis inclusive of freight costs this is equivalent to a price of US$2,500/dmt (SC6.0, CIF China basis). Pursuant to the terms of the auction, the bidder is required to enter into a sales contract with the Company in the coming days which requires a letter of credit to be presented. Ship loading is expected November.

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