PLS said the P2000 Project will expand Pilgangoora through construction of the new Jimmagunya processing plant. The company expects first production in the September quarter of calendar 2029, followed by an approximate six-month ramp-up to full production.
According to PLS, the feasibility study supports approximately A$1.9 billion in P2000 investment and forecasts an incremental post-tax NPV of A$2.7 billion and post-tax IRR of 29.5%, based on a long-term SC6 price assumption of US$1,620/t. PLS said the project is expected to average about 1.97Mtpa of SC5.2 production over its first 10 years at steady state.
PLS said the updated Ore Reserve includes about 67Mt of mineralised contact material previously classified as waste, following improved processing capability. The company said its current open-pit Ore Reserve supports about 20 years of production under the P2000 feasibility-study schedule.
Source: Download PLS official ASX announcement, 2026-10-16.
Technical figure from PLS Group's ASX announcement dated 16 October 2026.