Dale Henderson

Dale Henderson leads Pilbara Minerals as Managing Director, overseeing Australia's largest independent hard-rock lithium mining operation. The company's Pilgangoora mine in the Pilbara region of Western Australia hosts one of the world's largest lithium deposits — a massive spodumene pegmatite deposit that provides decades of mine life. Pilbara Minerals produces spodumene concentrate, which is sold to refiners who convert it into battery-grade lithium hydroxide and lithium carbonate for use in electric vehicle batteries and energy storage systems. Pilbara Minerals has rapidly scaled production at Pilgangoora, benefiting from the surge in lithium demand driven by the global EV transition. The company has also innovated its sales approach by establishing the BMX (Battery Material Exchange) digital sales platform — an auction-based system that provides transparent spot pricing for spodumene concentrate, which has become a reference point for the industry. However, lithium prices have experienced extreme volatility: after peaking in late 2022 at over $8,000 per tonne for spodumene concentrate, prices crashed below $1,000 as new supply came online and Chinese EV growth moderated. Key stock drivers include lithium spodumene concentrate prices (the dominant factor), production volumes and unit costs, Pilgangoora expansion progress, global EV sales and battery production growth, new lithium supply additions, downstream integration plans, and the long-term supply-demand dynamics of the lithium market.