Scope Update Highlights Outstanding Economy and State-of-the-Art Sustainability of Piedmont’s Carolina Lithium Project | Your money

NEW YORK – (BUSINESS WIRE) – June 9, 2021–

Piedmont Lithium Inc., (“Piedmont” or the “Company”) (NASDAQ: PLL; ASX: PLL) is pleased to present the results of the updated scoping study (“Scoping Study” or “Study” ) for its integrated lithium hydroxide business project (“Carolina Lithium” or the “Project”) in Gaston County, North Carolina. Study confirms Carolina Lithium will be one of the largest and cheapest lithium hydroxide producers in the world, with a greater sustainability footprint than historical producers, all in an ideal location to supply the chain rapidly growing electric vehicle supply in the United States. States.

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Figure 1 – Life Cycle Analysis of Key Carbon Intensity, Water Consumption and Footprint of Piedmont Carolina Lithium (Graphic: Business Wire)

HIGHLIGHTS OF THE PROJECT

Sustainable manufacture of lithium hydroxide

Piedmont Carolina Lithium is expected to have a superior sustainability profile compared to current producers based in China and South America. Chinese lithium producers rely heavily on coal power and typically use a carbon-intensive sulfuric acid roasting process to convert raw materials shipped from Australia, while South American producers tend to using vast expanses of land and large amounts of water, all in the world’s driest desert, Atacama.

Metso Outotec process reduces emissions, eliminates sulfuric acid roasting and reduces solid waste

Solar power generation, pit crushing and electric transmission reduce reliance on carbon-based energy sources

Significantly reduced transport distances for raw materials and finished products

Highly efficient use of land and water compared to brine production in South America

CO 2 intensity much lower than that of the hydroxide production in place in China, including emissions of scope 1, 2 and 3

Preliminary independent life cycle analysis (“LCA”) carried out with Minviro

Exceptional economy and scale

The study confirms that Piedmont will be a large producer of low-cost lithium hydroxide, benefiting from its ideal location in Gaston County, North Carolina, with exceptional infrastructure, a deep local talent pool, energy at low cost and proximity to local markets for the monetization of industrial mineral by-products. The results of the study represent a substantial improvement over previous studies despite the use of more conservative assumptions related to mining dilution and metallurgical recoveries.

The competitive advantage of Piedmont’s unique location is illustrated in the following lithium hydroxide cost curve, which was prepared by Roskill, a leading consultancy in the lithium industry.

Fully integrated manufacturing campus

Piedmont Carolina Lithium envisions a single, integrated site, including quarrying, spodumene concentration, by-product processing and the conversion of spodumene to lithium hydroxide. There are currently no such integrated sites in operation worldwide, and the economic and environmental benefits of this strategy are compelling:

Prime location in Gaston County, NC – “The cradle of lithium business”

Elimination of SC6 transport costs and associated noise and emissions

On-site solar complex to power concentrate operations and reduce reliance on diesel equipment

Potential for co-location of other downstream battery materials / Li-ion battery manufacturing

Creation of up to 500 jobs in manufacturing, engineering and management

Site offers potential to expand hydroxide capacity by adding additional manufacturing trains in the future

“We are extremely satisfied with the results of our updated scoping study. The economics of our project continue to impress, but I am particularly proud of the sustainability profile of the project. Customers, investors and neighbors are increasingly focusing on companies that “do it right”. It is essential that raw material supply chains do not undermine the overall sustainability of the transition to electric vehicles. Our project will have a much smaller environmental footprint than that of alternative suppliers, and we hope that this will 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 assess potential strategic partnership and funding options for its Carolina project. North. Given the project’s unique position as the only U.S. spodumene project, with world-class scale, economy and sustainability, we expect the strategic interest to be strong.

Keith D. Phillips, President and CEO

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CONTACT: Keith Phillips

President and CEO

T: +1 973 809 0505

E: [email protected] Brian Risinger

Vice-President – Corporate Communications

T: +1 704 910 9688

E: [email protected]

KEYWORD: NEW YORK UNITED STATES NORTH AMERICA

INDUSTRY KEYWORD: MINES / MINERALS NATURAL RESOURCES

SOURCE: Piedmont Lithium inc.

Copyright Business Wire 2021.

PUB: 06/09/2021 6:30 a.m. / DISC: 06/09/2021 6:32 a.m.

http://www.businesswire.com/news/home/20210609005267/en

Copyright Business Wire 2021.


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