Pilbara Minerals, Australia’s biggest independent lithium producer, said on Wednesday it is looking at acquisitions to grow but putting money back into existing assets would come first.
Pilbara Minerals hired an M&A banker as its chief development officer around a year ago, saying at the time it was in the very early stages of considering acquisitions for growth. That said, Australia’s mining barons Gina Rinehart and Chris Ellison have snapped up blocking stakes in many of the country’s promising lithium developers, making the domestic landscape for consolidation more complex.