Pilbara Minerals shares on watch after site update

Pilbara Minerals Ltd (ASX: PLS) shares are on watch after the lithium miner provided an update on a "tragic incident" at its project site.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The Pilbara Minerals Ltd (ASX: PLS) share price is one to watch this morning after another update on an incident at its mining site.

What did Pilbara Minerals announce this morning?

Pilbara this morning clarified its comments made yesterday about an incident at its Pilgangoora project site. 

Pilbara shares closed 1.54% lower at $0.32 per share yesterday after returning from a trading halt on Monday afternoon.

Pilbara reported a "tragic incident" at its Pilgangoora project site on Monday, which led to a halt in operations. The company reported a death had occurred on Monday as a result of an incident between personnel in the Pilbara region site.

While unrelated to mining operations, Pilbara temporarily suspended operations at the facility pending an investigation. The Western Australia Police Force's Homicide Squad was investigating the incident.

Pilbara further clarified those comments today saying that the incident involved contractor personnel and not direct employees of Pilbara Minerals.

The Western Australia Police Force has now returned the areas of interest pertaining to the site operations. Pilbara is now recommencing operations with full production rates expected within the next 24 to 48 hours. 

Pilbara said it will continue to support the police in its investigation with no further comment provided.

How have Pilbara shares performed this year?

Pilbara shares have fallen lower this week but are trading flat at $0.32 per share over the last month. That hasn't been the case in 2019 though, as the Pilbara share price has plummeted 56.16% lower with weaker trading and pricing conditions continuing to bite.

It's been a similar story for other lithium miners including Orocobre Ltd (ASX: ORE) and Galaxy Resources Limited (ASX: GXY).

The Galaxy share price has halved in 2019 as lithium prices have plummeted around the world. Orocobre shares have declined 13.25% to $2.75 per share in what has been a difficult year for shareholders.

Motley Fool contributor Kenneth Hall has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Share Market News

Man ecstatic after reading good news.
Share Gainers

Why Canyon Resources, Core Lithium, Duratec, and Unico Silver shares are storming higher

These shares are outperforming on Thursday. What's going on?

Read more »

Percentage sign with a rising zig zaggy arrow representing rising interest rates.
Share Market News

With inflation edging lower, here's the latest 2026 interest rate forecast from CBA

Buying ASX shares and pining for interest rate relief? Here’s CBA’s latest 2026 forecast.

Read more »

A group of young people celebrate and party outside.
Best Shares

Where to invest $7,000 in Janaury

I think these investments will thrive in 2026 and beyond...

Read more »

A man stands with his arms crossed in an X shape.
Mergers & Acquisitions

BlueScope shares fall after rejecting 'significantly undervalued' takeover offer

The steel products company has given a firm no.

Read more »

CEO of a company talking to her team.
Share Market News

Ansell announces CEO transition: Nathalie Ahlström to succeed Neil Salmon in 2026

Current CEO Neil Salmon will retire in February 2026.

Read more »

A senior couple sets at a table looking at documents as a professional looking woman sits alongside them as if giving retirement and investing advice.
Share Market News

Ramelius Resources reports steady gold output; FY26 guidance reaffirmed

Ramelius Resources reports strong December quarter gold production.

Read more »

A woman is very excited about something she's just seen on her computer, clenching her fists and smiling broadly.
Share Market News

Monadelphous lands $110m in new contracts across sectors

Monadelphous shares are in focus after securing $110 million in new contracts across resources, energy, and renewables.

Read more »

Buy now written on a red key with a shopping trolley on an Apple keyboard.
Broker Notes

Experts rate these 2 ASX shares as buys this month!

Leading analysts say these stocks are a buy.

Read more »