Scoping Update Highlights the Exceptional Economics and Industry-Leading Sustainability of Piedmont’s Carolina Lithium Proj...
June 09 2021 - 6:30AM
Business Wire
Piedmont Lithium Inc., (“Piedmont” or the “Company”) (NASDAQ:
PLL; ASX: PLL) is pleased to report the results of the updated
scoping study (“Scoping Study” or “Study”) for its proposed
integrated lithium hydroxide business (“Carolina Lithium” or the
“Project”) in Gaston County, North Carolina. The Study confirms
that Carolina Lithium will 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 an ideal
location to supply the rapidly growing electric vehicle supply
chain in the United States.
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Figure 1 - Life cycle analysis of key
carbon intensity, water usage, and land footprint of Piedmont
Carolina Lithium (Graphic: Business Wire)
PROJECT HIGHLIGHTS
Sustainable Lithium Hydroxide Manufacturing
Piedmont Carolina Lithium is expected to have a superior
sustainability profile relative to the current producers based in
China and South America. Chinese lithium producers are highly
reliant on coal-fired power and generally utilize a
carbon-intensive sulfuric acid roasting process to convert raw
materials shipped in from Australia, while South American producers
tend to utilize vast tracts of land and large quantities of water,
all in the driest desert in the world, the Atacama.
Metso Outotec process reduces emissions, eliminates sulfuric
acid roasting, and reduces solid waste
Solar power generation, in-pit crushing, and electric conveying
reduce reliance on carbon-based energy sources
Vastly diminished transportation distances for raw materials and
finished product
Highly efficient land and water use compared with South American
brine production
Far lower CO2 intensity than incumbent China hydroxide
production including Scope 1, 2, and 3 emissions
Independent preliminary Life-Cycle Analysis (“LCA”) completed
with Minviro
Exceptional Economics and Scale
The Study confirms that Piedmont will be a large and low-cost
producer of lithium hydroxide, benefitting from its ideal location
in Gaston County, North Carolina, with exceptional infrastructure,
a deep local talent pool, low-cost energy, and proximity to local
markets for the monetization of by-product industrial minerals. The
Study results represent a substantial improvement over prior
studies despite the use of more conservative assumptions related to
mining dilution and metallurgical recoveries.
The competitive advantage of Piedmont’s unique location is
depicted in the following lithium hydroxide cost curve, which was
prepared by Roskill, a leading lithium industry consultancy.
Fully Integrated Manufacturing Campus
Piedmont Carolina Lithium contemplates a single, integrated
site, comprising quarrying, spodumene concentration, by-products
processing, and spodumene conversion to lithium hydroxide. There
are currently no such integrated sites operating anywhere in the
world, and the economic and environmental advantages of this
strategy are compelling:
Premier location in Gaston County, North Carolina – “the cradle
of the lithium business”
Elimination of SC6 transportation costs and related noise and
emissions
On-site solar complex to power concentrate operations and reduce
reliance on diesel fueled equipment
Potential to co-locate other downstream battery materials /
Li-ion battery manufacturing
Creation of up to 500 manufacturing, engineering, and management
jobs
Site offers potential to expand hydroxide capacity by adding
additional manufacturing trains in the future
“We are exceedingly pleased with the results of our updated
Scoping Study. The economics of our Project continue to impress,
but I am particularly proud of the Project’s sustainability
profile. Customers, investors, and neighbors are increasingly
focused on businesses that are “doing things the right way.” It is
critical that raw material supply chains do not detract from the
overall sustainability of the transition to electric vehicles. Our
project will have a far lower environmental footprint than
alternative suppliers, and we expect that to position Piedmont well
with all stakeholders.
As we move forward to complete a Definitive Feasibility Study
for Carolina Lithium later in 2021, Piedmont has engaged Evercore
and JPMorgan as financial advisors to evaluate potential strategic
partnering and financing options for its North Carolina Project.
Given the Project’s unique position as the only American spodumene
project, with world-class scale, economics, and sustainability, we
expect strategic interest to be robust.
Keith D. Phillips, President and Chief Executive Officer
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version on businesswire.com: https://www.businesswire.com/news/home/20210609005267/en/
Keith Phillips President & CEO T: +1 973 809 0505 E:
kphillips@piedmontlithium.com
Brian Risinger VP – Corporate Communications T: +1 704
910 9688 E: brisinger@piedmontlithium.com
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