Belmont, North Carolina–()–Piedmont Lithium (“Piedmont” or “Agency”) (Nasdaq:PLL; ASX:PLL)is a primary world developer of lithium belongings essential to the U.S. electrical automobile (“EV”) present chain and within the current day launched that U.S. automakers are supplying North American lithium (“NAL”) from spodumene focus (“SC6”). “).

Piedmont and Tesla agreed to restore each other Former offtake agreement The phrases of this new settlement are binding for 3 years and embody an option to renew for an extra three years. Beneath the amended contract, Piedmont has agreed to ship roughly 125,000 tonnes of SC6 to Tesla from the second half of 2023 by the use of the tip of 2025.

In response to the phrases, the SC6 worth could be determined by a formula-based mechanism linked to the standard market worth of lithium hydroxide monohydrate at some stage in the contract. The value obtained by Piedmont beneath the contract with Tesla is determined by the market worth on the time of each cargo.

Keith Phillips, President and CEO of Piedmont Lithium, talked about: “The panorama for electrical autos and vital battery provides has modified significantly since 2020, and this settlement shows the rising significance and demand for the North American lithium present chain. We’re going to help make certain that these essential belongings keep in North America and assist the Lowering Inflation Act’s mandate to strengthen U.S. present chains, a transparent energy financial system, and world decarbonization.”

Manufacturing of spodumene focus is anticipated to resume at NAL throughout the first half of 2023, with the first industrial shipments anticipated to begin throughout the third quarter of 2023. Piedmont will ship his SC6 from NAL to Tesla beneath an offtake address Piedmont and Sayona Quebec. metric tons per 12 months or 50% of his SC6 manufacturing. His SC6 purchase from Sayona Quebec in Piedmont is subject to floor and ceiling prices all through the mining interval.

About Piedmont Lithium

Piedmont Lithium (Nasdaq:PLL; ASX:PLL) is a world-class, multi-asset, built-in lithium enterprise focused on enabling the transition to a net-zero world and the creation of a transparent energy financial system in North America doing. Our purpose is to turn into one in all many largest lithium hydroxide producers in North America by processing spodumene focus produced from property that keep monetary curiosity. Our initiatives embody the Carolina Lithium and Tennessee Lithium initiatives in america and a partnership with Sayona Mining (ASX:SYA) in Quebec and a partnership with Atlantic Lithium (AIM:ALL; ASX:A11) in Ghana. included. These geographically numerous operations will enable us to play a pivotal operate in supporting America’s switch in direction of energy independence and the electrification of transportation and energy storage. Observe us on Twitter for additional knowledge. @piedmont lithium and go to

Forward-Making an attempt Statements

This press launch incorporates forward-looking statements which could be meant or outlined beneath the securities authorized pointers of america and Australia. Current plans for mineral and chemical processing initiatives in Piedmont. and method. Such forward-looking statements comprise substantial, recognized and unknown risks, uncertainties and totally different hazard parts, plenty of which can be previous our administration, and can impact events, outcomes, Exact timing of effectivity or outcomes and totally different parts may differ materially. future timing of events, outcomes, effectivity or achievements expressed or implied by forward-looking statements; Such hazard parts embody, amongst others: (i) the shortage of Piedmont, Sayona Mining or Atlantic Lithium to commercially mine mineral deposits or current them to Tesla or totally different firms; (ii) the property of Piedmont, Sayona Mining, or Atlantic Lithium couldn’t embrace the anticipated minerals; (along with risks inherent in operations, environmental hazards, industrial accidents, local weather or geological conditions); (iv) uncertainties regarding the mining functionality of Piedmont; (vi) modifications in market prices for lithium and lithium merchandise; (vii) technological modifications or development of various merchandise; (viii) related permitting, zoning and regulatory delays; uncertainties inherent in exploratory, developmental and manufacturing actions, along with associated risks o our initiatives and other people of our companions in Quebec and Ghana; (ix) uncertainties inherent in lithium helpful useful resource estimates; ) risks related to opponents, (xi) risks related to knowledge, data and forecasts related to Sayona Mining or Atlantic Lithium, (xii) incidence and penalties of claims, litigation and regulatory actions, investigations and proceedings; (xiii) Risks to {our capability} to realize profitability, enter into present agreements on favorable phrases and ship merchandise. passable financing to develop and assemble our initiatives, {our capability} to regulate to authorities legal guidelines, and {our capability} to accumulate wanted permits; and (xiv) filings with the U.S. Securities and Alternate Price typically. Completely different uncertainties and hazard parts (“SEC”) described throughout the paperwork and the Australian Securities Alternate (along with the most recent filings with the SEC of Piedmont). Forward-looking statements, forecasts and estimates are supplied solely as of the date of this press launch; Statements, projections and estimates may differ materially. Readers are cautioned to not place undue reliance on forward-looking statements. Piedmont disclaims any intention or obligation to publicly exchange such forward-looking statements, forecasts and estimates due to new knowledge, future events or in another case. We undertake no obligation to the touch upon any analysis, expectations or statements made by any third get collectively regarding Piedmont, its financial outcomes, effectivity of operations or securities, moreover as required by .

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