News and Announcements
Piedmont Lithium (ASX: PLL) Scoping Study delivers compelling results
- Published July 20, 2018 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Piedmont Lithium limited (ASX: PLL) has announced the compelling results of their Scoping Study for their integrated lithium project.
- The study was to determine the viability of an open pit mine, spodumene concentrator and lithium hydroxide plate in North Carolina, USA.
- The study outlines a low start-up risk and low chemical plant capital requirements through an initial open-market spodumene concentrate sale.
Piedmont Lithium Limited (ASX: PLL) has announced the results of the Company’s Scoping Study for its vertically-integrated Piedmont Lithium Project located in North Carolina, USA. The project is inclusive of a lithium hydroxide chemical plant and spodumene contrate from an open pit mine and concentrator. The project is expected to meet the strategic need for domestic US lithium production and will deliver substantial economic benefits to the local region. The project is set to produce 22,700 tonnes of lithium hydroxide per year. The plant will be supported by an open pit mine and concentrator that will produce 170,000 tonnes per year of 6% Li2O low-iron spodumene concentrate. The project will have an average operating cost of USD3,960 per tonne and a cash flow approaching USD8.900 per tonnes (after-tax).
The initial years of the project will see the revenue from the sales of spodumene concentrate on helping establish the capital need for the chemical plant. The Scoping Study demonstrates the strong commercial potential, putting the company in a strong potion to engage in future financing, including discussions with prospective strategic and take-off partners. Piedmont will now conduct a Pre-Feasibility Study by 2019.
About Piedmont Lithium (ASX: PLL)
Piedmont Lithium is developing a world-class integrated lithium project in North Carolina USA, where most of the world’s lithium was produced from the 1950s to the 1980s. The North Carolina location provides dramatic infrastructure and cost advantages as well as a unique non-China supply for the global lithium market. Piedmont (ASX: PLL) is Chaired by Ian Middlemas of Apollo Group in Perth, and presenting at the conference will be New York-based CEO Keith Phillips.
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