PLS Group Reports 73% Revenue Increase in Q2; Considers Restart of Ngungaju Lithium Plant
PLS Group, an Australian lithium producer, reported a 73% increase in second-quarter revenue to A$373 million, driven by rising lithium demand and prices, which reached $1,161 per tonne. The company is considering restarting its Ngungaju lithium plant within four months, contingent on strong offtake interest, while maintaining its full-year forecasts despite rising unit operating costs.
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PLS Group, an Australian lithium producer, reported a 73% increase in second-quarter revenue to A$373 million ($262.89 million), up from A$216 million a year earlier, driven by improved lithium demand and prices. The company received prices of $1,161 per tonne, a 50% increase from the previous quarter.
PLS is considering restarting its Ngungaju plant in Western Australia within four months, pending strong offtake interest. The decision is expected in the next quarter. The firm produced 208,000 metric tonnes of spodumene concentrate in the December quarter, slightly below the consensus estimate.
Unit operating costs rose 8% sequentially to A$585 per tonne. Despite anticipated cost pressures due to the wet season, PLS maintains its full-year forecasts steady.
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