PLS Group Signs 20-Year Power Deal With Fortescue
By Rhiannon Hoyle
Australian lithium miner PLS Group has signed a 20-year power deal with iron-ore giant Fortescue that it said will lower its electricity costs and emissions.
Under the agreement, Fortescue will supply a minimum of 325 gigawatt-hours of electricity annually to the Pilgangoora lithium operation in Western Australia, PLS said Wednesday.
The company recently said it would proceed with the P2000 project that aims to expand production of lithium-rich spodumene concentrate at the mine.
"Access to lower-cost, lower-emissions power will deliver further improvements to the economics of our recently approved P2000 project expansion, beyond those announced at FID [the final investment decision], while providing capacity to support future growth," PLS Chief Executive Dale Henderson said.
Fortescue Chief Executive Dino Otranto said PLS is the first customer for Fortescue's so-called green grid, a renewable energy network it is building in Western Australia's Pilbara region.
Write to Rhiannon Hoyle at rhiannon.hoyle@wsj.com
(END) Dow Jones Newswires
October 27, 2026 18:05 ET (22:05 GMT)
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