Pilgangoora Operation — lithium & tantalum mine

Tier-one hard-rock lithium (spodumene) open-pit operation in the Pilbara region of Western Australia with a ~32-year mine life, in production since 2018. Comprises the Pilgan Plant (with new ore sorting facility) and the Ngungaju Plant, the latter placed into temporary care and maintenance in December 2024 under the single-plant P850 operating model (~850ktpa capacity) with rapid-restart capability. The $560M P1000 Expansion Project completed in FY25 added ~320ktpa nameplate capacity (first ore 31 January 2025; ramp-up completed March quarter 2025). A major power station upgrade added gas generators, LNG storage and a battery energy storage system. FY25 ore mined 5.22M wmt @1.4% Li2O; lithia recovery 71.9%; tantalite produced as by-product. Royalties: 5% WA state + 1% native title + 5% private royalty on part of the Altura-acquired resource. P2000 Feasibility Study (2Mtpa) extended to FY27; Mid-Stream Demonstration Plant (Calix JV) under construction on site.