CAROLINA LITHIUM
We are designing Carolina Lithium to be a fully integrated lithium project in Gaston County, North Carolina, with mining, spodumene concentrate production, and lithium hydroxide conversion occurring all on one site. We expect Carolina Lithium to be one of the world’s only fully integrated lithium sites and among the most sustainable lithium hydroxide operations of its kind. The project, currently in the development stage, is located within the renowned Carolina Tin-Spodumene Belt.
Based on published technical studies, we expect Carolina Lithium to be a low-cost producer of spodumene concentrate and lithium hydroxide and a key contributor to U.S. energy security. The project is planned to produce 30,000 metric tons of lithium hydroxide per year, which would more than double the current domestic production capacity of approximately 20,000 metric tons annually.
Carolina Lithium should benefit from exceptional infrastructure, minimal transport distances, low energy costs, a deep local talent pool, and proximity to cathode and battery customers as well as by-product markets. The competitive corporate tax regime offered in the U.S., the absence of significant royalties, and the benefits inherent in the Inflation Reduction Act of 2022 should also provide advantages to the project.
Mining Permit Receipt
In May 2024, we received the finalized mining permit for the construction, operation, and reclamation of Carolina Lithium following the posting of a $1 million reclamation bond to the state of North Carolina. The North Carolina Department of Environmental Quality’s Division of Energy, Mineral, and Land Resources approved the permit application on April 12, 2024.
Receipt of the state mining permit for Carolina Lithium allows us to accelerate discussions with potential funding parties, including strategic partners and supportive government programs, such as the Department of Energy’s Advanced Technology Vehicles Manufacturing (ATVM) loan program.
We are looking toward potentially commencing the local rezoning process in 2025, with the timing of the project’s development dependent upon our funding strategy, potential partnerships, and lithium market dynamics. Our goal is to put in place a strong funding plan that will maximize value for Piedmont shareholders. We will continue to engage with community stakeholders, including the Gaston County Board of Commissioners, in advance of anticipated rezoning and local permitting efforts.
HIGHLIGHTS
Proximity to expected customers reduces transportation distances for a more responsible supply chain emissions profile
Industry-leading sustainability profile, leveraging innovative Metso:Outotec technology
Single, integrated site, helping minimize land impact and reduce transportation requirements
Job creation supported by a skilled local workforce
By-product recovery for a more responsible waste profile
Corporate Headquarters
Piedmont Lithium was founded in 2016 and is headquartered in Belmont, North Carolina. In 2021, Piedmont redomiciled from Australia to the United States. Soon afterward, work began to expand our corporate headquarters in North Carolina – a state that is quickly becoming a critical hub for the U.S. electrification industry.
We chose North Carolina as the home of our corporate headquarters due to its proximity to our proposed Carolina Lithium project as well as the electric vehicle supply chain. We believe we are uniquely positioned to deliver lithium hydroxide as a key resource to the market.
In August 2022, we celebrated the opening of our corporate headquarters at 42 E. Catawba Street in Belmont, NC. The repurposed office space is housed in the formerly unoccupied Belmont Savings and Loan building, which was renovated to help contribute to the revitalization of the city’s historic downtown district.
