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(Kitco News) - Lithium producer Piedmont Lithium (Nasdaq: PLL) announced Wednesday the first commercial shipment of spodumene concentrate (SC) produced by North American Lithium (NAL), located in Quebec, Canada.
In a statement, the company said the inaugural shipment of 20,500 metric tons of spodumene concentrate by North American Lithium departed the Port of Quebec City on August 1, 2023.
NAL is wholly owned by Sayona Quebec, a joint venture between Piedmont (25%) and Sayona Mining (ASX: SYA) (75%).
Piedmont added it expects to ship approximately 56,500 metric tons in H2 2023 under its joint venture offtake agreement, including the first tons under the long-term supply agreement with LG Chem.
Keith Phillips, President and CEO of Piedmont, said the first set of shipments marks a pivotal period for the company as it continues to transition from a developer to a lithium producer.
“For the last seven years, Piedmont Lithium has focused on developing a supply of crucial lithium resources, and we are excited to begin generating revenue and cash flow as we see our plans come to fruition,” he said.
“Our products will help our customers meet the requirements of the Inflation Reduction Act and, in turn, the growing demands of the U.S. electric vehicle and battery supply chains,” Phillips added.
Piedmont Lithium indicated 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.
The company’s goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where it holds an economic interest.
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