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Lithium Price Slide Leads to Pilbara Profit Declining 89 Percent

Lithium is used in electric vehicle batteries.
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Lithium Price Slide Leads to Pilbara Profit Declining 89 Percent
An aerial view of lithium fields in the Atacama desert in Chile. Shutterstock
Monica O’Shea
Updated:
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Lithium giant Pilbara Minerals reported an 89 percent profit decline on Aug. 26 amid falling commodity prices. Lithium is an essential component of electric vehicle (EV) batteries.

Pilbara reported a statutory net profit after tax of $257 million (US$174 million) for the 2024 financial year, down 89 percent in 2023 (pdf).
Monica O’Shea
Monica O’Shea
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Monica O’Shea is a reporter based in Australia. She previously worked as a reporter for Motley Fool Australia, Daily Mail Australia, and Fairfax Regional Media. She can be reached at monica.o'[email protected]
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