Piedmont Lithium Corporate Update
Piedmont Lithium Inc. (Nasdaq: PLL) (ASX: PLL) (Piedmont or the Company) is pleased to provide an update on our recent accomplishments and development plans:
- Piedmont Lithium Inc. (Nasdaq: PLL) (ASX: PLL) (Piedmont or the Company) is pleased to provide an update on our recent accomplishments and development plans:
Scoping update published in June 2021 contemplating 30,000 tonnes per year (tpy) lithium hydroxide production on a single integrated site in Gaston County, North Carolina
Expected to employ ~500 people in well-paying jobs while making Gaston County a magnet for other businesses in the EV supply chain, and driving opportunities for a broad array of local small businesses
Piedmont is acquiring a 9.5% stake in IronRidge Resources (AIM: IRR) and may earn up to a 50% interest in IRRs Ghanaian lithium portfolio
The Ewoyaa project is expected to have strong economics given its high-grade mineral resource, DMS-only process, low-cost hydro power, and close proximity to an international port
Piedmont has offtake agreements in place for 50% of spodumene concentrate production from Sayona/NAL and IRR Ghana, underpinning potential future growth in lithium hydroxide production
Cash balance of approximately $143 million as of June 30, 2021
Keith D. Phillips, President and Chief Executive Officer, said, Piedmont is positioned to become a leading producer of lithium hydroxide while positively impacting the communities in which we operate by creating jobs, attracting other EV supply chain participants, increasing the tax base, and broadly supporting other local small businesses. - Through direct investment and contracted offtake, we control a significant quantity of potential spodumene concentrate production in three critical locations.
- We believe spodumene is the preferred feedstock for the EV supply chain and that owning the resource is the key to value creation in the lithium industry.
- We look forward to constructively engaging in the permitting and approval process for Carolina Lithium and driving further value for our shareholders by advancing the Quebec and Ghana projects toward development decisions.