PLS is turbocharging its lithium growth with Ngungaju’s restart and full control of Calix’s mid-stream technology, positioning the company to capitalise on rising market demand and long-term value opportunities.
The 200,000 tonnes per annum Ngungaju plant is scheduled to resume production in early July 2026, following readiness works including a crusher upgrade. Restart capital is fully within its 2025-26 financial year (FY26) guidance, with unit operating costs (FOB) expected toward the top of the $560–$600 per tonne range.
“The restart of the Ngungaju plant demonstrates the disciplined through-the-cycle strategy we have executed,” PLS chief executive officer Dale Henderson said. “Preserving operational capability and balance sheet strength during the downturn so we could respond decisively as conditions improved.”
Complementing this operational move, PLS has acquired Calix’s interest in the Mid-Stream Demonstration Plant joint venture for $11.4 million, giving PLS full ownership, funding, and operational control.
“The acquisition of Calix’s interest of the demonstration plant joint venture reflects a sensible evolution of the project to enable operational flexibility while preserving our original joint strategic intent,” Henderson said.
“By consolidating ownership and operational control, PLS gains the execution certainty and flexibility required to efficiently optimise the demonstration plant alongside our broader Pilgangoora Operation, while continuing to work in partnership with Calix to advance and commercialise the technology.
“We remain positive on the long-term potential of the midstream concept and its role in onshoring value-added processing of lithium materials.”
Calix chief executive officer Phil Hodgson said the company looks forward top continuing its partnership with PLS to realise the potential of the technology to capture more value from domestic critical mineral resources and to significantly reduce the carbon intensity of battery materials.
“The new partnership structure enables Calix to release material capital from the Mid-Stream project and more strongly aligns with Calix’s capital-light commercialisation strategy,” he said.
The simplified operational structure for the project aims to expedite the commissioning and operations of the demonstration plant. In turn, a successful demonstration of our first, full scale electric calciner can help accelerate the deployment of the Calix platform technology across all our target markets.”
Beyond Ngungaju and the Mid-Stream project, PLS continues to sequence growth selectively, with P2000 Pilgangoora expansion feasibility outcomes expected in December 2026 and Colina Project feasibility study outcomes in December 2027.
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