Piedmont Lithium to participate in upcoming industry conferences
Piedmont Lithium reported senior leadership participation in future industry conferences:
- BMO 32nd Annual Global Metals, Mining, and Critical Minerals Conference in Miami, Florida;
- Red Cloud Financial Services Pre-PDAC Mining Showcase in Toronto, Canada;
- 35th Annual ROTH Conference in Dana Point, California;
- Loop Capital Markets Annual Investor Conference in New York; and
- Gabelli’s 14th Annual Specialty Chemical Symposium in New York.
Piedmont CEO Keith Phillips stated that he is looking forwards to updating industry leaders and investors on the Company’s progress in providing North American lithium supplies to EV automakers and battery manufacturers.
Further upgrade to Halleck Creek Rare Earths Project
American Rare Earths (ARR) presented an update on metallurgical testing on ore from the Halleck Creek Project.
According to ARR, the metallurgical test work done to date under the direction of Wood PLC indicates a simple process flowsheet as the ore responds well to conventional technology. ARR stated that this opens up significant prospects for lowering the project’s operating and capital costs.
CEO and Managing Director Chris Gibbs said these recent metallurgical test findings are exceedingly encouraging and bring the Halleck Creek Project closer to commercialisation.
FY23 half-year results
Mineral Resources Ltd has released its financial statements for the half-year period ending 31 December 2022 (1H23).
According to MinRes, it achieved $939 million in underlying profits before interest, tax, depreciation, amortisation, and impairment (Underlying EBITDA), a 503% increase over the prior corresponding period (pcp).
MinRes said it delivered an excellent first-half performance, fueled by record Lithium earnings from the conversion of Mt Marion and Wodgina spodumene concentrates into lithium battery chemicals. MinRes added that the first-half performance was also supported by stable Mining Services earnings and a larger contribution from Iron Ore due to higher attained prices.
Half-year financial results
Westgold Resources Limited released its financial results for the half-year period ending 31 December 2022.
According to Westgold Managing Director Wayne Bramwell, industry cost pressures reached an all-time high in the fiscal year 2022 (FY22). Bramwell stated that when comparing costs in H1 FY23 to costs in H1 FY22, Westgold experienced an 82% increase in diesel prices, as well as material price increases in ground support, explosives, flights, accommodations, and food. Bramwell added that these variables contributed to a 17% cost increase between the two years.
Bramwell said cost pressures in the industry remain, but the Westgold team is attacking them hard on and focusing on enhancing efficiencies across fewer but larger mines. He added that many of Westgold’s new initiatives are starting to bear fruit, and sales costs have fallen 4.5% when comparing H2 FY22 to H1 FY23.
