From developer to lithium producer: Piedmont Lithium CEO shares exciting milestone | News Direct

From developer to lithium producer: Piedmont Lithium CEO shares exciting milestone

News release by Piedmont Lithium

facebook icon linkedin icon twitter icon pinterest icon email icon Vancouver | August 10, 2023 12:38 PM Eastern Daylight Time


Piedmont Lithium president and CEO Keith Phillips, President and CEO of joined Proactive's Stephen Gunnion to discuss the company's transition from a developer to a lithium producer after its North American Lithium (NAL) partner Sayona Mining Ltd made history with their first commercial shipment of 20,500 metric tonnes of spodumene concentrate produced by NAL in Quebec.

Phillips detailed the revenue generation strategy, indicating that the company will have shipments through two primary streams: a joint venture and direct sales to customers. The joint venture will facilitate cash flow into the business, reducing the need for external funding, while direct sales will contribute to Piedmont Lithium's revenue and profitability.

Regarding the importance of lithium production, Phillips emphasized the growing demand driven by the electric vehicle (EV) and battery supply chains. He noted that the EV market is booming, with lithium being a crucial component in batteries. The Inflation Reduction Act in the United States is also discussed, with Phillips highlighting its positive impact on domestic mineral production and its potential benefits for American producers like Piedmont Lithium.


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