Australian lithium mining giant Pilbara Minerals Ltd. said on Wednesday it will nearly double its lithium production by the end of 2025 to meet the mushrooming demand.
Australia is the world's largest lithium exporter, and Pilbara is one of Australia's largest lithium producers. Its 100%-owned Pilgangoora hard rock lithium mine is located in the resource-rich Pilbara region of west Australia.
Pilbara said on Wednesday it would spend A$560 million ($375 million) to expand its plant in West Australia to boost annual production of spodumene to 1 million mt from the current 580,000 mt.
The Pilbara website also shows that the company received A$250 million in long-term financing from the Australian government last year to support the expansion of the Pilgangoora project.
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