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Pilbara Minerals takes on debt to march forward with growth ambitions despite weak lithium market

Pelican Press

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Pilbara Minerals takes on debt to march forward with growth ambitions despite weak lithium market

The ASX’s largest pure-play lithium miner has managed to stay profitable during the first six months of 2024 and is loading up on more debt.

The full extent of the lithium price carnage was ***** bare in Pilbara’s financial year results with revenue declining from $4.1 billion to $1.3b, profit shedding 89 per cent — $2.4b to $257m, and cash margin from operations going from $3.7b to $513m.

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#Pilbara #Minerals #takes #debt #march #growth #ambitions #weak #lithium #market

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