Piedmont Lithium expects to double its planned lithium hydroxide production in the U.S.
(Kitco News) - Piedmont Lithium (NASDAQ: PLL) said yesterday it expects to double its U.S. lithium hydroxide production to 60,000 tpy, including 30,000 tpy at the fully integrated Carolina Lithium project, and another 30,000 tpy at a second planned U.S. plant, with site selection expected in Q2 2022.
Importantly, the company noted that its flagship Carolina Lithium project is advancing toward a Final Investment Decision, with Bankable Feasibility Study published in December 2021 and Economic Impact Study published in January 2022.
"Our recent feasibility study confirmed the strategic nature of Carolina Lithium, with NPV exceeding $2 billion and independent assessments confirming its impressive sustainability profile," the company said in a statement.
Currently, the company is advancing the permitting process and is also evaluating bids for the front-end engineering design (FEED) for Carolina Lithium's 30,000 tpy lithium hydroxide conversion plant. The company expects to launch FEED for its hydroxide plant in Q2 2022.
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Moreover, Piedmont said it is partnering with Sayona Mining to develop one of Quebec's leading lithium businesses, with plans to restart the North American Lithium's spodumene concentrate plant in H1 2023.
In addition, Piedmont reported that exploration activities are continuing at the Ewoyaa lithium project in Ghana and, along with its partner Atlantic Lithium, the company plans to complete a feasibility study in 2022, with first production possible in 2024.
"We are developing our assets at an opportune time with global sales of electric vehicles having doubled in 2021, and large U.S. battery plant investments being made by major automotive and battery companies. This electrification of the automotive market is a generational investment opportunity, and we are uniquely well-positioned to capitalize on it," commented President and CEO Keith Phillips.
Piedmont Lithium also said it 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.