PLS Group Ltd

PLS Group Limited (ASX: PLS) is a leading global producer of lithium materials. The Company operates across Australia, Brazil and South Korea.

Pilgangoora Operation

Pilgangoora Operation is the Company's flagship asset and the world's largest independent hard-rock lithium operation. Record production of 232.4kt was achieved in the March Quarter. This reflected improved plant reliability and stable lithium recovery near 75 per cent.

Total material mined rose to 9.9 million tonnes. Ore mined fell to 1.3 million tonnes as planned waste stripping continued.

Pilgangoora Operation is also the focus of the Company's P2000 Feasibility Study. This targets expanded concentrate production capacity of approximately 2.0 million tonnes per annum. Outcomes are expected in the December Quarter of 2026, following construction of a new concentrator alongside existing processing facilities. The Ngungaju Plant restart, approved for early July 2026, forms part of this broader growth plan.

Pilgangoora Operation continued exploration during the Quarter. Diamond drilling targeted the Bridge Zone between the East Pit and Monster Pit. This work tested depth extensions of mineralised pegmatites, supported by a State Government co-funding arrangement.

Colina Project (Brazil)

Colina Project represents the Company's growth pipeline outside Australia. Feasibility study activities during the March Quarter included exploration drilling, metallurgical test work and flowsheet refinement. Infrastructure studies also progressed as part of the broader assessment.

Colina Project remains on schedule, with Feasibility Study outcomes expected in the December Quarter of 2027. This timeline positions the Project as a longer-term addition to the Company's lithium portfolio.

POSCO Pilbara Lithium Solution (South Korea)

POSCO Pilbara Lithium Solution, known as P-PLS, operates a lithium hydroxide chemical facility in Gwangyang. Both processing trains recommenced operations during the March Quarter, having been idled previously amid changes to United States EV subsidies. Train 1 produced 2,094 tonnes and Train 2 produced 636 tonnes, with 99 per cent and 98 per cent respectively meeting battery-grade quality.

P-PLS holds a distinctive position as one of the few commercial-scale, hard-rock lithium hydroxide refineries operating outside China. Subsequent to Quarter end, PLS and POSCO extended the period during which the Company's call option to increase ownership from 18 per cent to 30 per cent can be exercised at cost, now running to 31 July 2027.

Company Purpose

PLS positions itself as a business built to support the shift toward electrification. The Company supplies lithium for electric vehicles, battery storage and other low-emissions technologies.

The Company states it is growing its presence across the battery materials value chain. This growth remains disciplined and considered, anchored by the Pilgangoora Operation.

PLS describes responsible production as central to long-term asset performance. This approach also builds trust with employees, communities, customers and investors.

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