- Piedmont Lithium is developing spodumene and lithium hydroxide facilities in North Carolina
- The company’s Piedmont Lithium Project is within the Carolina Tin-Spodumene belt
- The lithium market continues to experience considerable growth
Piedmont Lithium Ltd. (NASDAQ: PLL) is focusing on becoming a strategic domestic supplier of lithium to the growing U.S. electric vehicle and battery storage markets. With its 100 percent-owned Piedmont Lithium Project, the company is developing spodumene and lithium hydroxide facilities in North Carolina. A specialty chemical company, Piedmont Lithium is headquartered in New York City.
The lithium market is poised for significant growth. Energy and Capital notes in its ‘Special Report: Lithium Investment Outlook 2019’ (http://ibn.fm/0rB7j) that, “…even though the EV business has grown significantly over the past several years, the market is just now prepared to really take off. Global electric vehicle production is expected to increase by more than 30x in the next 15 years alone! And as a result, lithium demand is expected to follow.”
Piedmont Lithium is positioned to leverage this demand and provide investors the opportunity to earn potential significant return on investment (ROI) from this trend. Its Piedmont Lithium Project is within the world-class Carolina Tin-Spodumene belt and along trend to the Hallman Beam and Kings Mountain mines. The company’s North Carolina facilities will provide a low capex/low opex, high IRR/NPV sustainable U.S.-based source of the fastest-growing lithium-battery-critical mineral.
Piedmont Lithium’s emphasis is on fast tracking the Piedmont Lithium Project toward production as a fully-integrated domestic source of lithium. A first mover in restarting exploration in an historic lithium producing region, the company recently announced that it boosted its exploration land position, bringing it to a total of 1,383 acres.
In a news release, Piedmont Lithium President and Chief Executive Officer Keith Phillips, said, “We continue to pursue our strategy of adding to our dominant land position in the Carolina Tin-Spodumene Belt (TSB). We have found high-grade mineralization in over 90 percent of the holes we’ve drilled on the TSB, and our expectation is that the larger our land position the larger our ultimate resource and mine life will be.”
The Piedmont Lithium Project lies in the Inner Piedmont belt next to the Kings Mountain shear zone. The company may potentially begin mining at the site in early 2020 (http://ibn.fm/zszlI). Piedmont’s aim is to restore the Kings Mountain region to its prominence in lithium mining.
Piedmont Lithium has established the presence of four major, high grade lithium corridors on the project. It accomplished this with the completion of a Phase 1 drill program, together with the historical drill program and exploration campaigns (http://ibn.fm/tqrFX). Howard Klein, a strategic adviser for the company, noted that the proposed mines and lithium processing plant in the area would bring some of the least costly lithium to the market as early as 2023.
With a leadership team boasting a track record of successful mining ventures, Piedmont Lithium is on course for sustained growth. The company is actively and assertively adding further options to expand its presence in the Carolina Tin-Spodumene region. The future is now for Piedmont’s strategic initiatives as the company works to become the leading domestic supplier of lithium.
For more information, visit the company’s website at www.PiedmontLithium.com
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