Carolina Lithium Advancing Toward Final Investment Decision International Investments Support Plans For Additional U.S. Hydroxide Production

BELMONT, N.C., February 3, 2022 – Piedmont Lithium Inc. (“Piedmont” or the “Company”) (NASDAQ: PLL; ASX: PLL), a leading, diversified developer of lithium resources required to enable the U.S. electric vehicle supply chain, today provided an update on near-term growth initiatives with its projects in North Carolina, Quebec, and Ghana.


Highlights

  • Piedmont expects to double U.S. lithium hydroxide production to 60,000 tpy
    • 30,000 tpy at the fully integrated Carolina Lithium Project
    • 30,000 tpy at a second planned U.S. plant, with site selection expected in Q2 2022
    • Piedmont plans to produce or has offtake rights to an estimated 500,000 tpy of SC6 production
  • Flagship Carolina Lithium Project is advancing toward a Final Investment Decision
    • Bankable Feasibility Study (BFS) published in December 2021
    • Economic Impact Study (EIS) published in January 2022
    • Key workstreams for 2022
      • Detailed engineering / Front End Engineering Design
      • EPC contractor selection
      • Final permitting and approvals
      • Strategic partnering and potential project debt financing
  • Investments in strategic resources in Quebec and Ghana position Piedmont for future growth
    • Partnering with Sayona Mining (ASX: SYA) to develop one of Quebec’s leading lithium businesses
      • Planned H1 2023 restart of North American Lithium’s spodumene concentrate plant
      • Piedmont holds offtake rights to 50% of NAL production life-of-mine
    • Partnering with Atlantic Lithium (AIM: ALL) to develop a world-class spodumene resource in Africa
      • Expected increases to mineral resource estimates in 2022 based on recent drill results
      • Feasibility Study (FS) expected late-2022; investment decision to follow

Click here for the full ASX Release

This article includes content from Piedmont Lithium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.

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