{"id":749385,"date":"2023-04-20T06:53:05","date_gmt":"2023-04-20T10:53:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/piedmont-lithium-completes-definitive-feasibility-study-of-tennessee-lithium-project\/"},"modified":"2023-04-20T06:53:05","modified_gmt":"2023-04-20T10:53:05","slug":"piedmont-lithium-completes-definitive-feasibility-study-of-tennessee-lithium-project","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/piedmont-lithium-completes-definitive-feasibility-study-of-tennessee-lithium-project\/","title":{"rendered":"Piedmont Lithium Completes Definitive Feasibility Study of Tennessee Lithium Project"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwlistdisc { list-style-type: disc }\n.bwpadl0 { padding-left: 0px }\n.bwpadl1 { padding-left: 5px }\n.bwpadr0 { padding-right: 0px }\n.bwrowaltcolor0 { background-color: #cceeff }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignm { vertical-align: middle }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Piedmont Lithium Completes Definitive Feasibility Study of Tennessee Lithium Project<\/b><\/p>\n<p class=\"bwalignc\"><i>Study demonstrates robust project economics, positive impacts of the Inflation Reduction Act<\/i><\/p>\n<ul class=\"bwlistdisc\">\n<li>\nFeasibility indicates results of NPV<sub>8<\/sub> of $2.5 billion and post-tax IRR of 32% for the 30-year project<\/p>\n<\/li>\n<li>\nAverage annual steady state EBITDA and after-tax cash flow increase to $376 and $317 million, respectively<\/p>\n<\/li>\n<li>\nProject economics demonstrate positive impact of America\u2019s pro-EV policies<\/p>\n<\/li>\n<li>\nInnovative Metso:Outotec technology to provide improved sustainability profile over conventional conversion<\/p>\n<\/li>\n<li>\nDevelopment-ready site with infrastructure, workforce, customer proximity, and cooperative government<\/p>\n<\/li>\n<li>\nZoned for industrial use, reducing number of permits and approvals required to commence construction<\/p>\n<\/li>\n<li>\nAvailability of low-cost, clean, reliable energy with TVA\u2019s net-zero by 2050 aspiration<\/p>\n<\/li>\n<li>\nPermitting and project financing activities advancing with goal of commencing construction in 2024<\/p>\n<\/li>\n<\/ul>\n<p>BELMONT, N.C.&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<b>Piedmont Lithium Inc. (\u201cPiedmont\u201d or the \u201cCompany\u201d) (Nasdaq:PLL; ASX:PLL)<\/b>, a leading global developer of lithium resources, is pleased to report the results of a Definitive Feasibility Study (\u201cDFS\u201d or \u201cStudy\u201d) of the Company\u2019s proposed Tennessee Lithium project in McMinn County, Tennessee. The Study of the 30,000 metric ton per year (\u201ctpy\u201d) lithium hydroxide (&#8220;LiOH&#8221;) plant featuring the innovative and waste-reducing Metso:Outotec conversion technology affirms the potential for Piedmont to develop an American-based lithium hydroxide business using spodumene concentrate from market sources, including via existing offtake agreements with Sayona Quebec and Atlantic Lithium.<\/p>\n<p>\nStudy economics for Tennessee Lithium are shown in Table 1 below and are highlighted by an estimated after-tax NPV (8% discount rate) of $2.5 billion and an after-tax IRR of 32%. The Study assumes fixed prices of $26,000 per metric ton of lithium hydroxide and $1,600 per metric ton of spodumene concentrate over the project\u2019s 30-year life. The model includes a Section 45X production tax credit of 10% under the Inflation Reduction Act of 2022 and assumes a credit of $141.7 million against project capital costs based on expected receipt of a U.S. Department of Energy (\u201cDOE\u201d) grant. Tennessee Lithium development remains subject to, among other things, receipt of material permits and arrangement of project financing.<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwrowaltcolor0 bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Table 1: Project Summary Outcomes<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Unit<\/b><\/p>\n<\/td>\n<td class=\"bwrowaltcolor0 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Tennessee Lithium DFS (March 2023)<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOperation life<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nyears<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwalignc bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n30<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSteady state annual LiOH production<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\ntpy<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwalignc bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n30,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nTotal initial capital cost<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n$mm<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwalignc bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$809<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAfter-tax Net Present Value @ 8% discount rate<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n$mm<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwalignc bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$2,492<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAfter-tax Internal Rate of Return<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwalignc bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n32%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSteady state LiOH conversion all-in sustaining costs<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n$\/t<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwalignc bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$2,952<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nSteady state spodumene purchase costs<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n$\/t LiOH<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwalignc bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$10,721<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage annual steady state EBITDA<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n$mm\/y<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwalignc bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$376<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAverage annual steady state after-tax cash flow<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n$mm\/y<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwvertalignb bwalignc bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n$317<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwvertalignm bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nPayback from start of operations<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwvertalignm bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nyears<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwpadr0 bwalignc bwvertalignm bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2.8<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nPiedmont President and Chief Executive Officer Keith Phillips, said he was pleased with the project economics and the positive impact of the Inflation Reduction Act, which strongly favors domestic battery and critical minerals production. \u201cAmerica\u2019s pro-EV and battery manufacturing policies are providing an advantage to Piedmont at a time when many analysts are projecting lithium shortages to continue into the 2030s. Piedmont\u2019s selection for a $141.7 million grant last year by the U.S. Department of Energy exemplifies America\u2019s commitment to developing a domestic lithium supply chain.<sup>1<\/sup>\u201d<\/p>\n<p>\n\u201cTennessee Lithium is positioned to be a key resource for EV and battery manufacturers,\u201d Phillips added. \u201cThrough long-term supply agreements with our partners, we can source raw material from spodumene that we own or in which we have an economic interest, providing greater control of our feedstock while capturing the economics of integrated production. We can advance development of the operation with revenues anticipated from the restart of North American Lithium and our recent offtake agreements with Tesla and LG Chem. Further, with the Metso:Outotec flowsheet, we believe we can sustainably produce critical lithium materials on a cost-effective basis for a more responsible profile compared to producers utilizing sulfuric acid roasting.\u201d<\/p>\n<p>\nPiedmont is advancing permitting and project financing activities for Tennessee Lithium with the goal of beginning construction in 2024. The Company is focused on first commercial shipments in Q3 from North American Lithium with revenue generation to support activities across Piedmont&#8217;s global portfolio of projects, including Tennessee Lithium. A DFS is expected mid-2023 for the Ewoyaa Lithium Project in Ghana, which is expected to be the primary feedstock for Tennessee Lithium, while Carolina Lithium continues to advance through permitting and approvals processes.<\/p>\n<p>\nTo view the full release and definitive feasibility study, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fpiedmontlithium.com%2Fpiedmont-lithium-completes-definitive-feasibility-study-of-tennessee-lithium-project%2F&amp;esheet=53384440&amp;newsitemid=20230420005314&amp;lan=en-US&amp;anchor=click+here&amp;index=1&amp;md5=3a82babef9ef5e11cd2be043e270790e\">click here<\/a>.<\/p>\n<p>\nAbout Piedmont Lithium<\/p>\n<p><i>Piedmont Lithium (Nasdaq:PLL; ASX:PLL) 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. Our goal is to become one of the largest lithium hydroxide producers in North America by processing spodumene concentrate produced from assets where we hold an economic interest. Our projects include our Carolina Lithium and Tennessee Lithium projects in the United States and partnerships in Quebec with Sayona Mining (ASX:SYA) and in Ghana with Atlantic Lithium (AIM:ALL; ASX:A11). These geographically diversified operations will enable us to play a pivotal role in supporting America\u2019s move toward energy independence and the electrification of transportation and energy storage. For more information, follow us on Twitter <\/i><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2FPiedmontLithium&amp;esheet=53384440&amp;newsitemid=20230420005314&amp;lan=en-US&amp;anchor=%40PiedmontLithium&amp;index=2&amp;md5=2242c99515275e187578d6670215ebd1\"><i>@PiedmontLithium<\/i><\/a><i> and visit <\/i><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.piedmontlithium.com%2F&amp;esheet=53384440&amp;newsitemid=20230420005314&amp;lan=en-US&amp;anchor=www.piedmontlithium.com&amp;index=3&amp;md5=9571fc884123ded2b92e3d902fb38fc0\"><i>www.piedmontlithium.com<\/i><\/a><i>.<\/i><\/p>\n<p><sup>1<\/sup><i>The grant will not be final until Piedmont Lithium and the DOE have agreed to specific terms and conditions of the grant. Once terms and conditions are finalized, funding of the grant will remain subject to satisfaction of conditions set forth in those terms.<\/i><\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20230420005314r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20230420005314\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20230420005314\/en\/<\/a><\/span><\/p>\n<p><b>Erin Sanders<br \/>\n<\/b><br \/>SVP, Corporate Communications &amp;<br \/>\n<br \/>Investor Relations<br \/>\n<br \/>T: +1 704 575 2549<br \/>\n<br \/>E: <a rel=\"nofollow\" href=\"mailto:esanders@piedmontlithium.com\">esanders@piedmontlithium.com<\/a><\/p>\n<p><b>Christian Healy\/Jeff Siegel<br \/>\n<\/b><br \/>Media Inquiries<br \/>\n<br \/>E: <a rel=\"nofollow\" href=\"mailto:Christian@dlpr.com\">Christian@dlpr.com<br \/>\n<\/a><br \/>E: <a rel=\"nofollow\" href=\"mailto:Jeff@dlpr.com\">Jeff@dlpr.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> North Carolina Tennessee Australia\/Oceania United States United Kingdom North America Australia Europe<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> EV\/Electric Vehicles Automotive Manufacturing Other Natural Resources Mining\/Minerals Other Automotive Natural Resources General Automotive Alternative Energy Energy Chemicals\/Plastics<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20230420005314\/en\/709123\/3\/logo2.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Piedmont Lithium Completes Definitive Feasibility Study of Tennessee Lithium Project Study demonstrates robust project economics, positive impacts of the Inflation Reduction Act Feasibility indicates results of NPV8 of $2.5 billion and post-tax IRR of 32% for the 30-year project Average annual steady state EBITDA and after-tax cash flow increase to $376 and $317 million, respectively Project economics demonstrate positive impact of America\u2019s pro-EV policies Innovative Metso:Outotec technology to provide improved sustainability profile over conventional conversion Development-ready site with infrastructure, workforce, customer proximity, and cooperative government Zoned for industrial use, reducing number of permits and approvals required to commence construction Availability of low-cost, clean, reliable energy with TVA\u2019s net-zero by 2050 aspiration Permitting and project financing activities advancing with goal of &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/piedmont-lithium-completes-definitive-feasibility-study-of-tennessee-lithium-project\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Piedmont Lithium Completes Definitive Feasibility Study of Tennessee Lithium Project&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-749385","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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