{"id":8050,"date":"2021-09-06T10:23:00","date_gmt":"2021-09-06T00:23:00","guid":{"rendered":"http:\/\/yinghuiinternational.com\/?p=8050"},"modified":"2021-09-12T10:23:38","modified_gmt":"2021-09-12T00:23:38","slug":"mineral-resources-offloads-328-million-pilbara-minerals-interest","status":"publish","type":"post","link":"https:\/\/yinghuiinternational.com\/index.php\/2021\/09\/06\/mineral-resources-offloads-328-million-pilbara-minerals-interest\/","title":{"rendered":"Mineral Resources offloads $328 million Pilbara Minerals interest"},"content":{"rendered":"\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"http:\/\/australianresourcesandinvestment.com.au\/wp-content\/uploads\/2021\/07\/shutterstock_750493204-1024x683.jpg\" alt=\"Deloitte\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">Mineral Resources has sold its 5.4 per cent stake of Pilbara Minerals in an effort to focus on its hard-rock lithium and iron ore assets.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mineral Resources has been a shareholder in Pilbara Minerals since October 2016 as part of its offtake rights and a royalty held of the Pilgangoora lithium-tantalum project in Western Australia.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Its 8 per cent stake in Pilbara Minerals at the time was valued at $50 million, with the $328 million divestment representing strong value.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">(\u201cMineral Resources) is delighted with the share price value delivered by Pilbara Minerals\u2019 development of Pilgangoora but believes it is time to redirect this investment into the company\u2019s own growth projects, including in the hard-rock lithium and iron ore sectors,\u201d Mineral Resources stated.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The $328 million divestment was completed through an underwritten accelerated block trade to institutional investors.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Pilbara Minerals<\/strong> share price on the ASX is $2.26 at the time of writing.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The transaction will support Mineral Resources\u2019 $650 million capital expenditure program for the 2021-22 financial year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mineral Resources expects costs to increase by 5 to 10 per cent at its Yilgarn Hub in Western Australia, with exports of 10.5 million to 11 million tonnes of iron ore.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This includes the Koolyanobbing iron ore mine and Carina mine, which is currently under care and maintenance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company also operates the Utah Point hub, which is expected to ship 10.5 million to 11 million tonnes of iron ore.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mineral Resources hard-rock lithium projects include the Mt Marion and Wodgina spodumene projects, owning 50 per cent and 40 per cent, respectively.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The company is expecting to ship 450,000 to 475,000 tonnes of spodumene from Mt Marion in the 2022-23 financial year, while Wodgina remains on care and maintenance.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Wodgina is one of the largest hard rock lithium deposits globally, and is operated under a joint venture with Albemarle who owns the remaining 60 per cent interest.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Mineral Resources is also constructing the Kemerton lithium hydrogxide project in Western Australia with Albermarle, owning a 40 per cent interest.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mineral Resources has sold its 5.4 per cent stake of Pilbara Minerals in an effort to focus on its hard-rock lithium and iron ore assets. Mineral Resources has been a shareholder in Pilbara Minerals since October 2016 as part of its offtake rights and a royalty held of the Pilgangoora lithium-tantalum project in Western Australia. &hellip; <a href=\"https:\/\/yinghuiinternational.com\/index.php\/2021\/09\/06\/mineral-resources-offloads-328-million-pilbara-minerals-interest\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Mineral Resources offloads $328 million Pilbara Minerals interest&#8221;<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[6,7],"tags":[],"class_list":["post-8050","post","type-post","status-publish","format-standard","hentry","category-mines-and-quarry","category-news"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p83F9T-25Q","jetpack-related-posts":[{"id":8001,"url":"https:\/\/yinghuiinternational.com\/index.php\/2021\/07\/29\/pilbara-minerals-continues-million-tonne-mission\/","url_meta":{"origin":8050,"position":0},"title":"Pilbara Minerals continues million-tonne mission","author":"yinghui","date":"July 29, 2021","format":false,"excerpt":"The Pilgangoora operation. Image: Pilbara Minerals Pilbara Minerals is closer to upgrading its Pilgan plant at the Pilgangoora lithium project in Western Australia, with surging sales and shipments supporting the project. Despite producing almost 700 tonnes less than the March quarter, Pilbara shipped a record 95,972 dry metric tonnes (dmt)\u2026","rel":"","context":"In &quot;Mines and Quarry&quot;","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"pilbara minerals' pilgangoora lithium operation","src":"https:\/\/i0.wp.com\/dszs098s1om2l.cloudfront.net\/australianmining.com.au\/2019\/11\/05120228\/Pilgangoora-604x270.jpeg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/dszs098s1om2l.cloudfront.net\/australianmining.com.au\/2019\/11\/05120228\/Pilgangoora-604x270.jpeg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/dszs098s1om2l.cloudfront.net\/australianmining.com.au\/2019\/11\/05120228\/Pilgangoora-604x270.jpeg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":2121,"url":"https:\/\/yinghuiinternational.com\/index.php\/2017\/01\/19\/rcr-tomlinson-secures-epc-contract-at-pilbara-lithium-project\/","url_meta":{"origin":8050,"position":1},"title":"RCR Tomlinson secures EPC contract at Pilbara lithium project","author":"yinghui","date":"January 19, 2017","format":false,"excerpt":"Lithium developer Pilbara Minerals has awarded an engineering, procurement and construction (EPC) contract at the Pilgangoora project in Western Australia to RCR Tomlinson. 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Demand from countries like China has grown significantly in the past two years as manufacturers look to increase output of lithium-related technology, such as li-ion batteries, in addition to its more traditional use for\u2026","rel":"","context":"In &quot;Mines and Quarry&quot;","block_context":{"text":"Mines and Quarry","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/mines-and-quarry\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/d9lhxyivbnow1.cloudfront.net\/wp-content\/uploads\/2017\/03\/28122333\/IMG_0618-1024x683.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/d9lhxyivbnow1.cloudfront.net\/wp-content\/uploads\/2017\/03\/28122333\/IMG_0618-1024x683.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/d9lhxyivbnow1.cloudfront.net\/wp-content\/uploads\/2017\/03\/28122333\/IMG_0618-1024x683.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":2594,"url":"https:\/\/yinghuiinternational.com\/index.php\/2018\/02\/01\/demand-for-mining-services-ramps-up\/","url_meta":{"origin":8050,"position":3},"title":"Demand for mining services ramps up","author":"yinghui","date":"February 1, 2018","format":false,"excerpt":"It was undoubtedly a better year for Australia\u2019s leading mining services companies in 2017. 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Image: Rapid Crushing & Screening Contractors Rapid Crushing & Screening Contractors has a strong track record of providing tailored solutions that boost productivity. Rapid Crushing & Screening Contractors, one\u2026","rel":"","context":"In &quot;Clients&quot;","block_context":{"text":"Clients","link":"https:\/\/yinghuiinternational.com\/index.php\/category\/clients\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2025\/02\/Rapid-1024x714.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2025\/02\/Rapid-1024x714.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2025\/02\/Rapid-1024x714.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.australianmining.com.au\/wp-content\/uploads\/2025\/02\/Rapid-1024x714.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":2679,"url":"https:\/\/yinghuiinternational.com\/index.php\/2018\/04\/09\/mineral-resources-to-acquire-atlas-iron\/","url_meta":{"origin":8050,"position":5},"title":"Mineral Resources to acquire Atlas Iron","author":"yinghui","date":"April 9, 2018","format":false,"excerpt":"Mineral Resources (MinRes) has secured a deal to acquire iron ore company Atlas Iron through a scheme of arrangement that values the target at around $280 million. 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