PLS has an 18% equity stake in a joint venture with South Korean company POSCO known as POSCO Pilbara Lithium Solutions (PPLS). In 2024, PPLS completed the construction of a Lithium Hydroxide Chemical Facility, the first of its kind in Korea.
PLS will supply spodumene concentrate to the Facility from its Pilgangoora Operation in Western Australia under a long-term offtake agreement.
The Facility has the potential to produce up to 43,000 tonnes of lithium hydroxide per year at full capacity, enough to make batteries for around one million electric vehicles and places the PLS and POSCO joint venture as one of the few lithium chemicals producers outside of China.
Extracting greater value from the battery materials supply chain by diversifying revenue streams is a key strategic focus for PLS in line with our ambition to become a fully integrated battery materials supplier.
PLS has a call option to increase its percentage interest in the joint venture company to 30%.