Piedmont Lithium (NASDAQ: PLL | ASX: PLL) has announced that the government has granted it permits to construct a lithium hydroxide plant in Tennessee where it’s proposed lithium project will be in McMinn County, although the cost has increased by a third.
The US$800M project, 265km southeast of Nashville, would process about 17,000tpa of lithium starting in 2026, with construction targets for 2024.
“Tennessee Lithium is uniquely positioned in America’s emerging Battery Belt to supply the domestic market with crucial, made-in-America lithium resources,” said Piedmont Lithium president and CEO Keith Phillips.
“Since announcing the selection of the site in McMinn County, Tennessee nearly one year ago, our team has been focused on permitting, engineering, and working with local officials to prepare this project to support the electric vehicle and battery manufacturing supply chain. As demand for lithium hydroxide continues to soar in the US, this conversion facility will be key in the domestic effort to reduce reliance on foreign nations for lithium processing.”
Piedmont Lithium previously announced robust project economics for Tennessee Lithium in a definitive feasibility study (DFS) released in April of this year. With a project net present value of US$2.5B and internal rate of return of 32%, the DFS underscored the positive impact of America’s clean energy policies and the value of the company’s hard-rock production strategy.
Plans to lease and renovate local office space are developing with the goal of supporting the revitalization efforts of downtown Etowah, Tennessee. Workforce development activities have also begun with local technical schools to develop key training programs and curricula for certain positions. Piedmont Lithium plans to hire 120 employees when Tennessee Lithium is operational. Hiring is expected to begin in H2 2023 and continue through 2026 to support construction and prepare for commercial production.
For further information, please visit: www.piedmontlithium.com
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