Published: December 17, 2021 |

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Piedmont Lithium has released the results of a bankable feasibility study (BFS) for its 100 percent owned proposed integrated lithium hydroxide business, Carolina Lithium, in Gaston County, North Carolina. The study confirms that Carolina Lithium has the location, mineral resources, and operational advantages to be one of the world’s largest and lowest-cost producers of lithium hydroxide, with a sustainability footprint that is superior to incumbent producers, all in a highly strategic location to supply the rapidly growing electric vehicle supply chain in the United States.

Current and forecasted battery manufacturing capacity now exceeds 500 GWh with public announcements of over $25bb in capital investments to occur in the U.S. by 2025. Based on an average requirement of 960t of lithium hydroxide per GWh of manufacturing capacity, the resultant U.S. demand for lithium hydroxide could exceed 460,000 t/y by 2027.

“Our unique, strategic location, innovative new processing technology, and integrated approach to producing battery-grade lithium hydroxide, have once again proven to offer a wide range of potential advantages to prospective customers, shareholders, and the community,” said Piedmont President and CEO, Keith Phillips.

“It’s becoming more apparent that electrification demands regionalization, and this latest BFS confirms the advantages we have to offer a U.S.-based EV supply chain through the fully-integrated, sustainable production of lithium hydroxide from spodumene, and the continuity of supply we will be able to deliver while reducing our reliance on China and other countries,” added Phillips.

The study reflects more conservative costing assumptions than prior studies, with recent inflationary pressures having a substantial impact on both capital expenditures and operating costs. These cost impacts are partially offset using lithium pricing assumptions based on the more positive outlook incorporated in the consensus estimates described in the full report which can be found HERE. The BFS assumes a fixed price of $18,000/t for battery quality lithium hydroxide, versus current spot prices exceeding $30,000/t.

The company submitted a N.C. State mining permit application on August 31, 2021. The company has received additional information requests in connection with the mine permit application and is preparing a written response. Carolina Lithium remains subject to local rezoning and permit requirements. Piedmont remains in pre-application consultation with Gaston County currently. A rezoning application will follow receipt of mine and air permits. The company will apply for a special use permit required by Gaston County upon completion of the rezoning process.

About Piedmont Lithium
Piedmont Lithium is developing a world-class, multi-asset, integrated lithium business focused on enabling the transition to a net zero world and the creation of a clean energy economy in North America. The centerpiece of its operations, located in the renowned Carolina Tin Spodumene Belt of North Carolina, when combined with equally strategic and in-demand mineral resources, and production assets in Quebec, and Ghana, positions them to be one of the largest, lowest cost, most sustainable producers of battery-grade lithium hydroxide in the world. They will also be strategically located to best serve the fast-growing North American electric vehicle supply chain. The unique geology, geography and proximity of their resources, production operations, and customer base, will allow them to deliver valuable continuity of supply of a high-quality, sustainably produced lithium hydroxide from spodumene concentrate, preferred by most EV manufacturers. Their planned diversified operations should enable them to play a pivotal role in supporting America’s move toward decarbonization and the electrification of transportation and energy storage. As a member of organizations like the International Responsible Mining Association, and the Zero Emissions Transportation Association, they are committed to protecting and preserving the planet for future generations, and to making economic and social contributions to the communities they serve.

To stop by Piedmont Lithium’s website, CLICK HERE

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