Piedmont Lithium (ASX:PLL) is set to move ahead with the construction, operation, and reclamation of its proposed Carolina Lithium Project in North Carolina, US, following the receipt of mining permit approval.
Piedmont, which has a $397 million market capitalisation, says the approval came from the North Carolina Department of Environmental Quality’s Division of Energy, Mineral, and Land Resources, clearing a path to begin operations following an almost three-year review.
As such, shares in the company had risen by 24.39% up to $0.26 per share as of 11:00 am AEST.
According to Piedmont President and CEO Keith Phillips, the Carolina Lithium Project is a strategic asset sitting in both the Carolina Tin-Spodumene Belt and the US Battery Belt.
Further, it is expected to contribute billions of dollars of economic output and several hundred jobs to the Gaston County region.
Phillips says construction will begin following receipt of all required permits, re-zoning approvals, and project finance activities.
“We plan to develop Carolina Lithium as one of the lowest-cost, most sustainable lithium hydroxide operations in the world, and as a critical part of the American electric vehicle supply chain,” Phillips explains.
“There are currently no such integrated sites operating anywhere in the world, and the economic and environmental advantages of this strategy are compelling.
The North Carolina mining permit approval is the precursor for the county rezoning process, and we look forward to continued engagement with the local community and the Gaston County Board of Commissioners.”
Phillips also states the company has had ongoing discussions with possible funding sources for Carolina Lithium, including the Department of Energy’s Loan Programs Office.
Piedmont Lithium is focused on developing a multi-asset, integrated lithium business enabling the transition to a net zero world and creation of a clean energy economy in North America.
Write to Adam Drought at Mining.com.au
Images: Piedmont Lithium
