Pilbara Minerals (ASX:PLS) - CEO & Managing Director, Ken Brinsden
CEO & Managing Director, Ken Brinsden
Source: Business News
The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • Pilbara Minerals (PLS) has entered an agreement with GLX Digital to launch a digital sales and trading platform
  • Under the platform, buyers will be able to purchase spodumene concentrate from Pilbara’s Pilgangoora Project in WA
  • The platform will give Pilbara an additional sales avenue and interested parties access to current and future spodumene concentrate
  • The platform will outline a timeframe for the sale of cargo and in the case of an auction, potential buyers will be able to anonymously bid on the product
  • Pilbara has ended the day a slight 1.40 per cent in the green with shares trading at $1.09

Pilbara Minerals (PLS) has entered an agreement with GLX Digital to launch a digital sales and trading platform.

Under the platform, buyers will be able to purchase spodumene concentrate from Pilbara’s Pilgangoora Project.

The Pilgangoora Project lies 120 kilometres from Port Hedland in Western Australia and is considered one of the largest hard rock lithium deposits in the world.

The platform will give Pilbara an additional sales avenue and interested parties access to current and future spodumene concentrate.

Spodumene is a pyroxene mineral that consists of lithium aluminium inosilicate.

It is a source of lithium and used in ceramics, mobile phones and car batteries.

The platform will outline a timeframe for the sale of cargo. In the case of an auction, potential buyers will be able to anonymously bid on the product.

“With significant growth in the battery raw materials supply chain now expected, the introduction of our battery material exchange trading platform should position Pilbara Minerals well to maximise its participation,” CEO and Managing Director Ken Brinsden.

“Creating a digital marketing and sales platform represents a logical evolution for the industry and we are pleased to be working with GLX Digital to lead the industry,” he added.

Pilbara has ended the day a slight 1.40 per cent in the green with shares trading at $1.09 in $3.114 billion market cap.

PLS by the numbers
More From The Market Online
The Market Online Video

Market Close: Green lights up on ASX for Easter hunt go

The ASX200 closed the day in record territory - nearly a per cent up with every…
The Market Online Video

Market Update: ASX glows red hot with another hit record

The ASX200 is trading up, hitting a new high of 7901 point and eclipsing the last…
The Market Online Video

Market Close: ASX eases up as staple sector shines

The ASX200 closed up just over half a per cent led by staples, healthcare and industrials.
The Market Online Video

Market update: CPI comes in lower than expected at 3.4%

CPI data released by the Australian Bureau of Statistics turned out better than expected figures of…