Pilbara Minerals secures 10-year debt facility to aid the expansion of its Pilgangoora Operation

Pilbara Minerals Limited (ASX: PLS) secured a 10-year debt facility from the Australian Government, through the Export Finance Australia and Northern Australia Infrastructure Facility  agencies to aid the expansion of its Pilgangoora Operation in the Pilbara region of WA.

Export Finance Australia has approved finance of the US$ equivalent of AU$125 million and Northern Australia Infrastructure Facility of AU$125 million.

This senior secured Facility of up to AU$250 million will support the construction of:

1. The P680 Project expansion to the Pilgan Plant to deliver an extra 100,000 tpa of spodumene concentrate production at an estimated capital cost of AU$103 million.
2. The 5 Mtpa crushing as well as ore sorting facility, that will substitute the current contracted crushing facility and will enable upcoming expansions that could ultimately deliver upto 1Mtpa of spodumene concentrate capacity across the entire Pilgangoora Operation at a capital cost of AU$194 million.

The debt facility is conditional upon conclusion of approved finance documents, along with  fulfilment of conditions precedent to drawdown, while the facility from Northern Australia Infrastructure Facility  will depend on final approval from the WA Government.

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