Pilbara Minerals moves to improve cash flow

Jul 30, 2020 | News

BNP Paribas and Clean Energy Finance Corporation have backed in lithium producer Pilbara Minerals Ltd with a $US110 million debt facility.

The new low cost facility replaces the Nordic Bond facility and is expected to improve cash-flow through as the company adapts to a moderated production strategy in response to COVID-19.

“While China is getting back to business,  some disruption within China’s supply chain remains [where the Company’s largest customers are based], however, Pilbara Minerals continued to secure sales, letters of credit and shipping to support of its moderated production strategy during the quarter, in line with previous guidance,” the company stated.

At the end of the June quarter Pilbara had $86.3 million cash.