Latest news with #PLS
West Australian
25-07-2025
- Business
- West Australian
WA lithium miners recover $6 billion of value as prices spike on Chinese regulatory probe
WA's beaten-down lithium stocks have recovered more than $6 billion in value as the battery metal's price spike raises hopes that a lingering global glut weighing on the sector could finally be diminishing. Mineral Resources and PLS shares have regained more than 50 per cent over the past four weeks, and Liontown Resources and IGO nearly 40 per cent, since speculation of production cutbacks in China lifted lithium prices off last month's lows. Futures covering the lithium-rich spodumene produced by the quartet have bounced as much as 29 per cent to $US790 ($1200) a tonne, still well short of the $US1100/t it was fetching 13 months ago but a considerable improvement on its bottom of $US605/t in the first week of June. Battery-grade lithium carbonate has added more than 10 per cent. 'Lithium prices have rallied strongly from June lows, with the market showing signs of supply response amid regulatory tightening, plus strong demand' for Chinese electric vehicles, Morgan Stanley analysts said. The price surge has blindsided analysts, demonstrated by Goldman Sachs' sell recommendation on Liontown on July 16 when the stock closed at 83¢. The owner of the new Kathleen Valley lithium mine has since hit a high of $1.03, closing on Friday 2¢ off at 94¢. Likewise, Mineral Resources was trading at $30.90 when Morgans advised clients on Tuesday to reduce their holdings. The shares finished at $32.29 on Friday to be up 60 per cent over the past month. The spodumene price jump is attributed to a regulatory crackdown on non-compliant miners in China that began with local authorities in the western province of Quinghai ordering mid-tier lithium producer Zangge Mining to immediately suspend production on suspicion it was breaching its mining licence. The probe has since extended to other miners that may have been exploiting lithium as a byproduct without the proper approvals. The focus has now reportedly switched to Yichun where miners of lepidolite, a crystal known for high lithium content, have been ordered to re-submit mining documents, raising the prospect of production cutbacks. UBS said 'most of the lepidolite mines are registered under ceramic clay instead of lithium', meaning most would need to reapply for permits to avoid closure. 'The lithium market should re-balance if lepidolite mine closures happen, supporting lithium and spodumene back towards an upward trajectory,' UBS said. Citi said investors were showing more interest in lithium in recent months, but noted the rally in lithium futures is likely 'sentiment-driven' on expectations of supply cuts in China or elsewhere. It cited investor questions on a recent Asian tour around 'the likelihood of supply curtailments from WA'. Citi said the latter was 'unlikely'. PLS shares closed one per cent better at $1.92 on Friday to be up 54 per cent over the past four weeks. IGO, which fell 2¢ to $5.34, has added 35 per cent over the same period.
West Australian
23-06-2025
- Business
- West Australian
Dale Henderson keeps the faith amid deteriorating lithium market with $1m splurge on PLS shares
The chief of PLS keeps buying millions of dollars worth of his company's stock amid a share price slide showing no signs of abating. Dale Henderson last week bought 755,000 shares in PLS, formerly known as Pilbara Minerals, for a total of $1.01 million — according to filings released to the ASX on Monday. This on-market outlay equates to $1.34 per share and comes seven months after a $1.1m spend on PLS shares. Mr Henderson bought 500,000 shares at $2.23 apiece during this December cash splash. But the spending sprees are unlikely to make a big dent in his bank balance. Mr Henderson's package of salary, shares and performance rights totalled $4.5m for the 2024 financial year. He now owns almost 2.1 million PLS shares, worth approximately $2.5m at current prices, and 2.1m of performance rights. PLS shares have sunk 61 per cent over the past year and 78 per cent since a November 2022 peak of $5.37. Its shares were in the red on Monday despite Mr Henderson's top up, trading down 2 per cent to $1.20 by 11.30am. Mr Henderson has been a vocal lithium bull, even in comparison to his other lithium CEO counterparts. While most miners of the battery mineral were battening down the hatches during the latter half of last year, PLS inked a deal to buy Brazilian-focused lithium developer Latin Resources for $560m. Mr Henderson described the major acquisition as 'counter-cyclical'. At the time of the Latin deal, the benchmark price of the spodumene concentrate lithium product PLS produces was over $US900 per tonne. And a year prior to the date of the deal it was about $US3500/t. It is now currently languishing at just over $US600/t, as slower-than-expected uptake of electric vehicles plus booming supply out of South America, Africa and China drags prices down.
Broadcast Pro
14-06-2025
- Business
- Broadcast Pro
Bespin Global MEA launches Middle Easts AWS cloud advisory support
Bespin Global MEAs AWS PLS Ultra offering combines deep AWS expertise with local cultural and operational knowledge and acts as a strategic partner. Bespin Global MEA, the public cloud powerhouse of e& enterprise and a leader in cloud consultancy and managed services, has introduced the Middle Easts first advisory-driven AWS Partner-Led Support (PLS) Ultra programme. The offering combines global AWS support with local, bilingual, GCC engineering teams, providing strategic, region-specific support tailored to the business and technology goals of organisations across the Middle East. Unlike generic support offerings, Bespin Global MEAs PLS Ultra is a partner-led, high-touch support programme combining engineering depth with a strategic focus on FinOps, cloud optimisation, and continuous transformation all adapted to the evolving needs of organisations operating in the Gulf. This model allows Bespin to serve as a single point of contact for support, to accelerate time to resolution and elevate businesses' experiences on AWS for maximum benefit and long-term outcomes. Mouteih Chaghlil, CEO of Middle East and Africa, Bespin Global, an e& enterprise company, said: 'Nearly 70% of companies in the Middle East are planning to migrate the majority of their operations to the cloud by year-end, according to a recent survey amongst UAE and KSA business and technology leaders. In this climate of rapid transformation, agility and innovation are essential to unlocking the full potential of cloud computing across operational, financial, and customer-facing functions. As technologies like IoT, edge computing, 5G, and AI-powered analytics gain traction, cloud adoption in the GCC will only accelerate. 'Thus, Cloud support must evolve from reactive support to proactive partnership. With AWS PLS Ultra, were not just solving issues – were helping our clients accelerate innovation, optimise architecture, and unlock long-term value.' Bespin Global MEAs AWS PLS Ultra offering combines deep AWS expertise with local cultural and operational knowledge and acts as a strategic partner. The programme offers direct, enterprise-grade access to advisory resources, removing the need to raise tickets through AWS and accelerating the time to insight, innovation, and optimisation. It includes a tiered support model for Developers, Businesses, and Enterprises – scaling from startups to mission-critical, large-scale cloud operations. At its highest tier, PLS Ultra provides a designated Technical Account Manager (TAM) for ongoing consultation, proactive architectural guidance tailored to business goals, regular operations reviews and event management planning, well-architected reviews to ensure strategic alignment and technical efficiency and concierge-style billing and account support. Bespin Global MEA is an AWS Premier Tier Services Partner and the recipient of the AWS MENA Consulting Partner of the Year 2024 – marking its fifth consecutive award in the region. The company has played a pivotal role in enabling over 700 organisations across diverse industries to modernise, secure, and scale their operations on the AWS Cloud. In October, e&, the global technology group serving over 175m subscribers across 34 countries, entered into a strategic partnership with AWS, the worlds leading cloud provider, to accelerate cloud and AI adoption across the region. As the public cloud powerhouse of e& enterprise, Bespin Global plays a central role in executing this vision – delivering end-to-end cloud consultancy, migration, and managed services that enable public and private sector organisations to modernise with confidence.
West Australian
11-06-2025
- Business
- West Australian
PLS boosts Pilgangoora's lithium mineral resource base by nearly a quarter amid supply glut
More lithium has been added to Pilgangoora's inventory as PLS pushes ahead with expansion plans at the Pilbara mine despite a torrid market. PLS, formerly known as Pilbara Minerals, has boosted the estimated lithium contained within Pilgangoora by 23 per cent to 446 million tonnes at 1.28 per cent lithium oxide (Li2O), which equates to 5.7 million tonnes of Li2O. The mineral resource upgrade followed a 104,672-metre drilling program comprising 364 holes drilled within the past two financial years. Shares in PLS spiked more than 10 per cent in early Wednesday trade, before paring back to a 3.5 per cent gain by 11.40am. 'The significant uplift in the mineral resources reaffirms our 100 per cent-owned Pilgangoora operation as one of the world's largest and highest-quality hard rock lithium assets,' PLS chief executive Dale Henderson said. 'This outcome is aligned with our strategy to optimise the operating base and unlock the full potential of this world-class asset, driving long-term value for our shareholders.' PLS wants Pilgangoora to pump out more spodumene concentrate, despite a prolonged market recession. Pilgangoora produces about 500,000 tonnes of the lithium product annually and is eyeing an increase to 850,000tpa — dubbed the P850 project. PLS has outlaid the capital required for P850. The benchmark price of the spodumene concentrate all of WA's lithium miners export is currently languishing between $US605 per tonne and $US630/t, down about a quarter this year to date and more than 80 per cent from a 2022 peak. All of the six lithium mines in Western Australia are believed to be losing money at current prices. A PLS spokesman on Friday indicated there are no plans to switch Pilgangoora off. 'The lithium market is moving through a phase of re-balancing. PLS is well positioned to navigate current conditions and capitalise on future recovery, underpinned by a multi-year strategy to scale the business, lower operating costs, and maintain a strong balance sheet,' the spokesman said. 'Combined with an embedded culture of continuous improvement to drive ongoing efficiency, this positions PLS strongly for the next phase of the cycle.' Mineral Resources and Ganfeng's Mt Marion lithium mine appears to edge out Liontown Resources' Kathleen Valley as the least profitable lithium mine in the State. But a MinRes spokesman told The West Australian on Thursday there were no near-term plans to put Mt Marion, or the company's other lithium mine Wodgina, into care and maintenance.
West Australian
09-06-2025
- Entertainment
- West Australian
Bringing stories to life: Spinifex Hill Studio wraps up Remote Art Project with Strelley Community School
With a focus on play, experimentation and preservation of culture, Spinifex Hill Studio recently wrapped up its remote art school project in collaboration with Strelley Community School, located 60km east of Port Hedland. Art students were able to engage with practising artists in a cross-generational setting. Many of them were their community-based peers and family members. 'A majority of artists in the studio are aunties and uncles and nannas and pops of the students,' Spinifex Hill Studio arts coordinator Rekeshia Goodwin said. 'We showed them a few different creative ways of telling their stories. 'Then it jumped from that to a mural design. We gave them different types of mediums to use and they wanted to know a bit more so they can practise and potentially do their own murals at the school.' At the end of the project, the children worked together to paint a large canvas mural which they could take back and display at their school. The remote art school project was funded as part of Pilbara Minerals' (PLS) annual community grants program, which provides a one-off payment of up to $10,000 to initiatives in the priority communities of Port Hedland, Strelley and Yandeyarra, and to Pilbara-wide initiatives. 'Through the community grants program, we're empowering local organisations to drive the initiatives that matter most to their communities, whether that's enhancing educational opportunities, building community resilience, or supporting the energy transition,' PLS' chief sustainability officer Sandra McInnes said. Community organisations can apply for the next round of grants, which are open until June 30.
