FinTechFunding

Pilbara Minerals: Secures $250m govt loan for Pilgangoora expansion

Pilbara Minerals Secures $250m govt loan for Pilgangoora expansion

  • Pilbara Minerals (PLS) takes out a $250 million government loan to fund the expansion of its Pilgangoora project in Western Australia
  • The company secured a 10-year debt facility through the Export Finance Australia (EFA) and Northern Australia Infrastructure Facility (NAIF) agencies
  • Subject to completion of finance documents and satisfaction of certain conditions, the funds will support expansion, including construction of a crushing and ore sorting facility
  • Following initial finance support, Managing Director Dale Henderson says the continued support from the Australian Government is a significant endorsement for the company
  • PLS shares are up 2.63 per cent and trading at $5.46 at 1:42 pm AEDT
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Steve Sam
Steve Sam
Steve Sam is a financial reporter, analyst, and commentator with a strong focus on banking technology, digital payments, and the future of financial services.

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