Pilbara Minerals Limited (PLS), an Australian-based lithium producer, has completed its acquisition of Latin Resources, marking a significant expansion into the Brazilian lithium market.

The transaction, which was first announced on August 15, 2024, received strong support from Latin Resources’ Board and shareholders.

Dale Henderson, PLS Managing Director and CEO, hailed the acquisition as a major milestone for the company.

“We are thrilled to have completed our first major acquisition outside of Australia and to be bringing a lithium project with such great potential into our portfolio,” Henderson stated.

The acquisition brings the Salinas Lithium Project, located in Minas Gerais, Brazil, under PLS ownership.

The project, now renamed Colina Project, has the potential to become a top 10 hard rock lithium operation globally, excluding Africa.

As part of the transition, Belo Lithium, a local Brazilian subsidiary of Latin Resources, will now operate under the PLS brand.

The company welcomes over 65 new team members based in Belo Horizonte and Salinas, emphasising the importance of their local knowledge and expertise.

PLS has outlined plans to optimise the Colina Project, incorporating learnings from its Pilgangoora Operation in Australia and other regional producers.

The company also intends to expand exploration efforts at the site, aiming to expand the deposit and test new prospects.

Henderson emphasised PLS’s commitment to community engagement and sustainable development.

The company plans to invest in local infrastructure, including additional phone towers for 4G coverage, and engage local contractors for upcoming civil and clearing works.

This acquisition aligns with PLS’s growth strategy, positioning the company to supply new markets while maintaining a strategic and sustainable approach to investment decisions.

As the lithium market continues to evolve, PLS’s expansion into Brazil represents a significant step in its global lithium production portfolio.