Piedmont Submits North Carolina Mine Permit and Draft U.S. Department of Energy Loan Applications

Piedmont Lithium Inc., (“Piedmont” or the “Company”) (Nasdaq: PLL), a multi-asset company focused on the integrated production of lithium hydroxide to support the North American electric vehicle supply chain, today announced it has submitted two applications related to the Company’s Carolina Lithium Project.

On August 30, 2021, the Company filed its application for a North Carolina State Mining Permit with the N.C. Department of Environmental Quality’s Division of Energy, Mineral and Land Resources.

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Piedmont Completes Initial Investment in Ironridge

Strategic Investment in Ghana Lithium Portfolio Supports Growth Plans

  • Piedmont Lithium has completed a 9.9% investment in IronRidge Resources
  • Earn-in agreement via staged investments to acquire a 50% stake in IronRidge’s Ghana lithium portfolio
  • Supply agreement gives Piedmont rights to 50% of Ghanaian spodumene concentrate (“SC6”) production
  • SC6 supply provides options for staged lithium hydroxide production expansion in North Carolina or Quebec

Piedmont Lithium Inc. (Nasdaq: PLL, ASX: PLL) is pleased to announce that the Company has completed a 9.9% investment in IronRidge Resources (AIM: IRR) (“IRR”) following satisfaction of conditions pursuant to the Subscription Agreement between PLL and IRR announced July 1, 2021.

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Piedmont Launches Definitive Feasibility Study for Concentrate Operations

Piedmont Lithium Limited (“Piedmont” or “Company”) is pleased to announce that it has awarded the definitive feasibility study (“DFS”) of its planned spodumene concentrate (“SC6”) operations in North Carolina to a combined team including Primero Group (“Primero”) and Marshall Miller & Associates (“Marshall Miller”). Marshall Miller will lead quarry design activities while Primero will advance the concentrator design, infrastructure design, and be responsible for overall study management.

The DFS will target production of 160,000 tonnes per year of SC6 as well as co-products including quartz and feldspar. The study will incorporate the results of the pilot level testwork currently ongoing at SGS Canada. Piedmont expects to complete the DFS in mid-2021 and pursue an investment decision for the concentrate operations shortly thereafter.

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Piedmont Lithium Signs Sales Agreement With Tesla

  • Piedmont enters into binding sales agreement to supply spodumene concentrate to Tesla
  • Five-year fixed-price binding agreement with optional five-year extension
  • Agreement confirms the strategic nature of Piedmont’s unique American spodumene deposit
  • Discussions are ongoing with respect to other lithium and by-product sales arrangements

Piedmont Lithium Limited ( “Piedmont” or “Company” ) is pleased to announce that it has entered into a binding agreement (“Agreement”) with Tesla, Inc. (“Tesla”) for the supply of spodumene concentrate (“SC6”) from Piedmont’s North Carolina deposit to Tesla.

The Agreement is for an initial five-year term on a fixed-price binding purchase commitment from the delivery of first product, and may be extended by mutual agreement for a second five-year term. The Agreement covers a fixed commitment representing approximately one-third of Piedmont’s planned SC6 production of 160,000 tonnes per annum for the initial five-year term as well as an additional quantity to be delivered at Tesla’s option. The SC6 sales are expected to generate between 10-20% of Piedmont’s total revenues from its proposed integrated mine-to-hydroxide project for the initial five-year term. The Agreement is conditional upon Tesla and Piedmont agreeing to a start date for spodumene concentrate deliveries between July 2022 and July 2023 based on the development schedules of both parties.

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Piedmont Resumes Drilling to Further Increase Mineral Resources in the Carolina Tin-Spodumene Belt

  • Drilling has commenced testing new target areas on the Company’s Core and Central properties
  • Drilling will also test previously identified regional drill targets in the prolific Tin-Spodumene Belt
  • Piedmont is focused on increasing its Mineral Resources and potential increased production of American sourced lithium

Figure 1 – Piedmont Lithium Project Property Map Showing Mineral Resources, Exploration Targets and Proposed Drillholes

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