Pilbara Minerals Limited has provided an update on the results of its fifth spodumene concentrate digital auction, held via its Battery Material Exchange. A cargo of 5,000 dmt at a target grade of 5.5% lithia was presented for sale on the platform with delivery expected from 15 June 2022. Strong interest was received in both participation and bidding by a broad range of buyers.Pilbara Minerals intends to accept the highest bid of USD 5,955 /dmt (SC5.5, FOB Port Hedland basis) which on a pro rata basis for lithia content (inclusive of freight costs) equates to a price of approximately USD 6,586/dmt (SC6.0, CIF China basis).Pursuant to the auction terms, the bidder is now required to enter into a sales contract with the Company, which requires a 10 percent deposit to be paid in the coming days and an irrevocable letter of credit from a recognised bank to be presented during the first week of June 2022.
Pilbara Minerals Limited has provided an update on the results of its fifth spodumene concentrate digital auction, held via its Battery Material Exchange. A cargo of 5,000 dmt at a target grade of 5.5% lithia was presented for sale on the platform with delivery expected from 15 June 2022. Strong interest was received in both participation and bidding by a broad range of buyers.Pilbara Minerals intends to accept the highest bid of USD 5,955 /dmt (SC5.5, FOB Port Hedland basis) which on a pro rata basis for lithia content (inclusive of freight costs) equates to a price of approximately USD 6,586/dmt (SC6.0, CIF China basis).Pursuant to the auction terms, the bidder is now required to enter into a sales contract with the Company, which requires a 10 percent deposit to be paid in the coming days and an irrevocable letter of credit from a recognised bank to be presented during the first week of June 2022.
