Record performance and momentum building
PLS delivered a strong quarter with record production, decrease in unit costs and increase in realised pricing – resulting in revenue of $567 million, up 57% on the prior quarter.
Growth projects continued to advance, with the P2000 Expansion and Colina Project studies both progressing, and the Ngungaju Plant restart on track for July 2026.
A multi-year offtake agreement with Canmax was also executed, including a floor price and pre-payment, reinforcing our position as a reliable, large-scale operator.
Subsequent to the quarter end, we further strengthened our balance sheet and funding flexibility with the completion of a US$600 million senior unsecured notes issuance.
The Mid-Stream Demonstration Plant Project also reached a major milestone with grant funding secured from ARENA, commissioning underway and an offtake agreement executed.
CEO message
“This quarter reflects a broader shift – electrification and energy storage are increasing the importance of batteries, with energy security now a key driver.
Supply chains are becoming more strategic, with greater value placed on scale, reliability and financial strength.”
Investor webcast recording
Watch a recording of the investor webcast with PLS’ CEO and the Executive Leadership Team covering the March Quarter results.
