MinRes seen as no concern
Pilbara Minerals managing director Ken Brinsden says he is not concerned by the emergence of Chris Ellison’s Mineral Resources in Pilbara lithium, saying he does not believe MinRes can match the best offers of the company’s Chinese offtake partners.
A dispute between the two companies flared last month after MinRes closed its acquisition of the Wodgina tantalum mine and processing facility from Global Advanced Metals.
MinRes has flagged its intention to use the project as a springboard to launch itself in Pilbara lithium, potentially as a processing hub for the juniors that have pegged vast areas.
Pilbara Minerals also acquired its tenements from GAM, which retained the right to match the terms of any sale deal for lithium concentrate from the tenements.
MinRes acquired that right as part of its deal with GAM, and a legal dispute flared last month when Pilbara Minerals advised MinRes it had struck an offtake deal with China’s General Lithium, and gave Mr Ellison’s company 45 days to match the terms or give up its right to take the product. MinRes filed legal action in the Supreme Court, challenging the notice lodged by Pilbara Minerals.
Mr Brinsden last week said Pilbara Minerals had withdrawn its original sales notice, ending MinRes’ initial legal challenge, and would lodge an amended version. He said he was not concerned MinRes had retained its right to match the terms of the General Lithium off-take deal.
Pilbara Minerals managing director Ken Brinsden.