Insights

Why is the Pilbara Minerals (ASX:PLS) share price halted?

This lithium miner’s shares have been halted…
The post Why is the Pilbara Minerals (ASX:PLS) share price halted? appeared first on The Motley Fool Australia. –

The Pilbara Minerals Ltd (ASX: PLS) share price won’t be going anywhere on Monday.

This follows the lithium miner’s request for a trading halt prior to the market open this morning.

Why is the Pilbara Minerals share price halted?

The Pilbara Minerals share price was placed in a trading halt today pending the release of an announcement.

The release explains that the announcement relates to the company entering into a strategic transaction concerning a downstream joint venture. No further details were provided.

Pilbara Minerals’ shares are expected to remain halted until the commencement of trade on Wednesday.

What is the joint venture?

As I mentioned above, no further details were provided by the company.

However, it is worth noting that just over two years ago, Pilbara Minerals announced binding terms with South Korean conglomerate, POSCO, for the formation of an incorporated joint venture in South Korea to build and operate a 40ktpa LCE primary lithium hydroxide downstream chemical processing facility.

This joint venture was set to be founded on POSCO’s industry leading “PosLX” purification technology. This produces high-grade lithium hydroxide and lithium carbonate chemicals.

It is also worth noting that in its recently released annual report, the company talks about the joint venture as a core part of its FY 2022 plan.

It states: “Negotiate and establish POSCO joint venture for the development and operation of a 40,000 tpa downstream lithium chemical conversion facility in South Korea supported by 315,000 tpa spodumene concentrate offtake.”

All in all, if it is this, it has the potential to be a real milestone for the company. As such, it will make it well worth keeping a close eye on the Pilbara Minerals share price when it returns to trade on Wednesday.

The post Why is the Pilbara Minerals (ASX:PLS) share price halted? 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

ASX lithium shares higher as spot prices mark new all-time high

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

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

Motley Fool contributor James Mickleboro 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!