Piedmont Lithium Releases Bankable Feasibility Study for Carolina Lithium Project
14 Dezembro 2021 - 9:00AM
Business Wire
Results confirm improved economics,
industry-low operating costs profile, with higher confidence
level
BANKABLE FEASIBILITY STUDY
HIGHLIGHTS
- NPV (after tax) of US$2.0 billion and post-tax IRR of 27%
- Assumes a fixed price of $18,000/t for battery quality lithium
hydroxide versus current spot price of >$30,000/t
- BFS estimates annual steady-state EBITDA of $459 million over
the first 10 years of operations
- Steady-state LiOH cash costs projected to be $3,657/t for the
first 10 years among the lowest in the world
- Estimate accuracy improved between June and December 2021 from
±35% to ±15%.
- Superior sustainability profile relative to current lithium
hydroxide producers in China and South America with respect to
water, land use and carbon intensity
- Continue to work with local, state, and federal authorities on
permitting and rezoning applications
- Full Report:
https://piedmontlithium.com/piedmont-completes-bankable-feasiblity-study-of-the-carolina-lithium-project-with-positive-results
Piedmont Lithium Inc., (“Piedmont” or the “Company”) (NASDAQ:
PLL; ASX: PLL), a leading developer of lithium hydroxide
production to enable the North American electric vehicle supply
chain, is pleased to report the results of a Bankable Feasibility
Study (“BFS”) for its 100% owned proposed integrated lithium
hydroxide business (“Carolina Lithium” or the “Project”) in Gaston
County, North Carolina. The Study confirms that Carolina Lithium
has the location, mineral resources, and operational advantages to
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 a highly strategic location to supply
the rapidly growing electric vehicle supply chain in the United
States. Current and forecasted battery manufacturing capacity now
exceeds 500 GWh with public announcements of over $25bb in capital
investments to occur in the U.S. by 2025. Based on an average
requirement of 960t of lithium hydroxide per GWh of manufacturing
capacity, the resultant U.S. demand for lithium hydroxide could
exceed 460,000 t/y by 2027.
“Our unique, strategic location, innovative new processing
technology, and integrated approach to producing battery-grade
lithium hydroxide, have once again proven to offer a wide range of
potential advantages to prospective customers, shareholders, and
the community,” said Piedmont President and CEO, Keith Phillips.
“It’s gratifying to have the opportunity to build a business that
has the potential to make a significant impact on decarbonization,
while also offering economic opportunity to members of the
community and our shareholders. It’s becoming more apparent that
electrification demands regionalization, and this latest BFS
confirms the advantages we have to offer a U.S.-based EV supply
chain through the fully-integrated, sustainable production of
lithium hydroxide from spodumene, and the continuity of supply we
will be able to deliver while reducing our reliance on China and
other countries.”
The Study reflects more conservative costing assumptions than
prior studies, with recent inflationary pressures having a
substantial impact on both capital expenditures and operating
costs. These cost impacts are partially offset using lithium
pricing assumptions based on the more positive outlook incorporated
in the consensus estimates described in the full report which can
be found at here. The BFS assumes a fixed price of $18,000/t
for battery quality lithium hydroxide, versus current spot prices
exceeding $30,000/t.
The lithium hydroxide plant is assumed to operate for 30 years,
with 2.0 Mt of SC6 delivered from Carolina Lithium’s concentrate
operations from years 1-11 and 3.9 Mt of SC6 delivered from third
party spodumene concentrate purchases from years 12-30, resulting
in a total production target of approximately 883,000 t of battery
quality lithium hydroxide, averaging approximately 29,400 t/y of
lithium hydroxide over the 30-year production life.
The Company’s Bankable Feasibility Study (“BFS”) is based on the
Mineral Resource estimate reported in October 2021, of 44.2 Mt at a
grade of 1.08% Li2O and the by-product Mineral Resource estimates
comprising 7.4 Mt of quartz, 11.1 Mt of feldspar and 1.1 Mt of mica
reported in June 2021. This announcement is intended to alert
investors to the conversion of 18.3 million metric tons of
previously categorized spodumene Mineral Resources (undiluted
basis) to Probable Ore Reserves and to report the results of the
technical study of the production of battery grade lithium
hydroxide from these Ore Reserves and other sources. The BFS
represents a significant advancement in project definition compared
with the Company’s previously announced Scoping Study update
announced in June 2021. Estimate accuracy has been improved between
June and December 2021 from ±35% to ±15%.
The Company submitted a N.C. State Mining Permit application on
August 31, 2021. The Company has received additional information
requests in connection with the mine permit application and is
preparing a written response. Carolina Lithium remains subject to
local rezoning and permit requirements. Piedmont remains in
pre-application consultation with Gaston County currently. A
rezoning application will follow receipt of mine and air permits.
The Company will apply for a special use permit required by Gaston
County upon completion of the rezoning process.
About Piedmont Lithium
Piedmont Lithium is developing a world-class, multi-asset,
integrated lithium business focused on enabling the transition to a
net zero world and the creation of a clean energy economy in North
America. The centerpiece of our operations, located in the renowned
Carolina Tin Spodumene Belt of North Carolina, when combined with
equally strategic and in-demand mineral resources, and production
assets in Quebec, and Ghana, positions us to be one of the largest,
lowest cost, most sustainable producers of battery-grade lithium
hydroxide in the world. We will also be strategically located to
best serve the fast-growing North American electric vehicle supply
chain. The unique geology, geography and proximity of our
resources, production operations and customer base, will allow us
to deliver valuable continuity of supply of a high-quality,
sustainably produced lithium hydroxide from spodumene concentrate,
preferred by most EV manufacturers. Our planned diversified
operations should enable us to play a pivotal role in supporting
America’s move toward decarbonization and the electrification of
transportation and energy storage. As a member of organizations
like the International Responsible Mining Association, and the Zero
Emissions Transportation Association, we are committed to
protecting and preserving our planet for future generations, and to
making economic and social contributions to the communities we
serve. For more information, www.piedmontlithium.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20211214005442/en/
Keith Phillips President & CEO T: +1 973 809 0505 E:
kphillips@piedmontlithium.com Brian Risinger VP – Investor
Relations and Corporate Communications T: +1 704 910 9688 E:
brisinger@piedmontlithium.com
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