Australia's Pilbara Minerals forecasts higher production for fiscal 2025
Adds details in paragraphs 5-7
July 24 (Reuters) -Australia's Pilbara Minerals PLS.AX said on Wednesday it expects higher production for fiscal 2025 while posting a 58% sequential jump in its June-quarter revenue.
Pilbara Minerals attributed the production forecast to a further increase in production capacity care of two major brownfields expansion projects being brought online.
The country's biggest pure-play lithium miner said it expects fiscal 2025 output to range between 800 and 840 thousand tons (kt) of spodumene concentrate, compared with 725.3 kt it produced in fiscal 2024.
Fiscal 2025 would be a "unique year for the company given the combination of major mine expansion activities occurring in combination with ongoing operational and efficiency improvements," Pilbara Minerals said.
The company's revenue jumped to A$305 million ($201.64 million) for the three months ended June 30, compared to A$192 million in the March quarter.
The lithium miner saw a jump in revenue due to an increase in sales volume and average realised price.
Sales of spodumene concentrate jumped 43% to 235.8 kt for the quarter.
($1 = 1.5126 Australian dollars)
Reporting by Echha Jain in Bengaluru; Editing by Alan Barona
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