Name of the Project
North Carolina lithium project.

Location
The tin-spodumene belt (TSB), in Gaston County, North Carolina, in the US.

Project Owner/s
Piedmont Lithium.

Project Description
A bankable feasibility study (BFS) has confirmed that the Carolina project could be one of the world’s biggest and lowest-cost producers of lithium hydroxide, with a sustainability footprint that is superior to current producers.

The project has proven and probable reserves of 18.26-million tonnes grading 1.1% lithium oxide. Total mineral resources are estimated at 44.2-million tonnes grading 1.08% lithium oxide.

The BFS proposes steady-state lithium hydroxide production from the conversion plant at about 30 000 t/y over a 30-year operational life. Average steady-state mine production is estimated at 242 000 t/y of spodumene, 252 000 t/y
of quartz, 392 000 t/y of feldspar and 28 000 t/y of mica over an 11-year mine life.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of $2.04-billion and an internal rate of return of 27%, with a payback of 3.5 years from the start of operations.

Capital Expenditure
Initial capital costs are estimated at $988-million.

Planned Start/End Date
A final investment decision is expected in 2022.

Latest Developments
Piedmont Lithium's first steps towards securing lithium supplies will be in Quebec or Ghana, not the US, as an intensifying North Carolina regulatory review delays the miner's goal of anchoring America's electric vehicle battery renaissance.

The delay has forced Piedmont to expand its strategy beyond its proposed North Carolina mine.

North Carolina regulators asked Piedmont in January for more detail on 12 points they felt were not adequately explained in the company's mining permit application, according to regulatory filings.

Regulators asked Piedmont to explain how the proposed mine could affect water table levels and how to modify mine site blasting on cloudy days to limit dust that could affect a nearby airport's operations.

The state also has "many concerns" about Piedmont's plans to discharge chemicals into the public sewer system, according to the filings, and archaeologists have recommended that Piedmont erect a 25 ft buffer around four cemeteries at the mine site, a step that could force the company to change its development plans.

Piedmont has until July 13 to respond.

Key Contracts, Suppliers and Consultants
BFS consultants: Primero Group Americas Inc (concentrate operations and overall BFS integration); Metso Outotec (lithium hydroxide manufacturing technology package and pilot testwork); SGS Canada Inc (concentrate and by-products metallurgical testwork); Marshall Miller and Associates (mine design and scheduling; estimation of ore reserves); McGarry Geoconsulting Corp (mineral resource estimation); HDR Engineering Inc (permitting, environment and social studies); Johnston, Allison, and Hord (land title and legal); Benchmark Mineral Intelligence (lithium products marketability; and John Walker (by-products marketability).

Contact Details for Project Information
Piedmont Lithium, tel +1 704 461 8000 or email info@piedmontlithium.com.