Insights

What’s with the Pilbara Minerals (ASX:PLS) share price today?

The lithium miner is further boosting its clean energy profile.
The post What’s with the Pilbara Minerals (ASX:PLS) share price today? appeared first on The Motley Fool Australia. –

The Pilbara Minerals Ltd (ASX: PLS) share price is off to a slow start on Wednesday morning. This comes after the lithium miner provided investors with an announcement regarding a solar farm commitment.

At the time of writing, the Pilbara Minerals share price is trading flat at $2.11.

What’s in the Pilbara Minerals update?

Investors appear to be relatively unfazed by the company’s latest news, sending the Pilbara Minerals share price sideways today.

In its release, Pilbara Minerals advised it has signed a power purchase agreement (PPA) with Pacific Energy Group subsidiary, Contract Power Australia.

The deal will see Pilbara Minerals construct, operate and maintain a 6MW solar array at its 100% owned Pilgangoora Project. The area is located 120km south of Port Hedland in the Pilbara region of Western Australia.

Pilbara Minerals noted that the solar array was an important demonstration of its commitment to implementing environmentally friendly power solutions. It hopes to become a net-zero emission producer by the decade starting 2040.

The solar array is estimated to displace around 3.8 million litres of diesel fuel each year. This will save an estimated 9,900 tonnes of CO2 per annum over the 15-year contract period. 

The installation of the project facilitates the future expansion of solar capacity and the potential inclusion of battery storage at Pilgangoora. Pilbara Minerals is aiming to create further efficiencies in regards to its power supply and storage solutions at the site.

It is anticipated that procurement for the project will start with commissioning expected in late July. Commercial operations are planned to begin at the end of August 2022.

Pilbara Minerals share price snapshot

Over the past 12 months, the Pilbara Minerals share price has accelerated more than 490%, with year-to-date above 140%. However, it hasn’t be until late July that the company’s shares began taking off to record highs.

Pilbara Minerals commands a market capitalisation of roughly $6.22 billion, and has approximately 2.97 billion shares outstanding.

The post What’s with the Pilbara Minerals (ASX:PLS) share price today? appeared first on The Motley Fool Australia.

Should you invest $1,000 in Pilbara Minerals right now?

Before you consider Pilbara Minerals, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Pilbara Minerals wasn’t one of them.

The online investing service he’s run for nearly a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

*Returns as of August 16th 2021

More reading

These 3 ASX 200 shares are topping the volume charts on Tuesday

ASX lithium shares mixed on Tuesday as prices surge to all-time highs

These 3 ASX 200 shares are topping the volume charts this Monday

These 3 ASX 200 shares are topping the volume charts this Friday

Why ASX lithium shares are booming on Thursday

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!