Scoping Update Highlights the Exceptional Economics and Industry-Leading Sustainability of Piedmont’s Carolina Lithium Project

Jun 9, 2021

Scoping Update Highlights the Exceptional Economics and Industry-Leading Sustainability of Piedmont’s Carolina Lithium Project

Sustainable Lithium Hydroxide Manufacturing

In a new Scoping Study released today Piedmont Carolina Lithium outlined the factors contributing to its expected 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.

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. To read the full study click here.

40% Increase In Byproducts Resource Estimate Improves Piedmont Operations Sustainability Profile by Maximizing Mineral Utilization Rates

In a newly released byproducts resource estimate Piedmont highlights positive impact to sustainability, and overall project economics.

Key Points:

Mineral Resource estimates have increased by 40% for quartz (11.5Mt), feldspar (17.8Mt), and mica (1.6Mt)
Piedmont has added John Walker, former CEO of The Quartz Corp, as a strategic advisor to the Company
Market analysis has demonstrated far greater potential demand for Piedmont industrial mineral products than prior Company estimates
The Company is advanced in discussions with prospective regional customers and strategic partners in the solar glass, engineered quartz, ceramic tile, and other industrial minerals markets
Expanded quartz, feldspar, and mica production will feature in the Company’s upcoming technical studies

A Message from CEO Keith Phillips

“The combination of our unique geographic location and truly phenomenal mineral resource continues to deliver benefits to our operations from a sustainability standpoint, as well as our overall operating cost profile and projected EBITDA run rates. Our location in close proximity to potential customers helps advance our goal of becoming one of the world’s most sustainable lithium manufacturing businesses. Placing more of our valuable resources into the market creates circular economy opportunities through waste reduction while providing substantial credits towards our cost of lithium hydroxide production. The future looks positively electric.”

Thank you for you continued interest in Piedmont Lithium.

For further information, contact:

Keith D. Phillips | President & CEO
T: +1 973 809 0505
E: [email protected]

Brian Risinger
VP – Investor Relations and Corporate Communications
T: +1 704 910 9688
E: [email protected]

https://piedmontlithium.com/