lithium miner PiedmontLithium has been awarded its final permit for its $800million Tennessee project criticalminerals resources investment USA
PERTH – Lithium miner Piedmont Lithium has received the final permit to advance the construction of its Tennessee lithium project, in the US.
The ASX- and Nasdaq-listed company on Friday said that the Tennessee Department of Environment and Conservation had issued an air permit for the project, marking the last of the material permits required for the project construction. “Tennessee Lithium is uniquely positioned in America’s emerging Battery Belt to supply the domestic market with crucial, made-in-America lithium resources,” Piedmont Lithium president and CEO“Since announcing the selection of the site in McMinn County 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.
A definitive feasibility study estimated that Tennessee would require a capital investment of $809-million, based on the production of 30 000 t/y of lithium hydroxide over an operating life of 30 years, with the study estimating an after-tax net present value of $2.4-billion and an after-tax internal rate of return of 32%.O spodumene concentrate purchased at market rates from third parties.
Tennessee will be partly funded from cashflows generated by Piedmont’s North American Lithium JV with fellow listed Sayona Mining, as well as a $141.7-million grant from the US Department of Energy.Edited by Creamer Media Reporter
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