Piedmont Lithium (NASDAQ: PLL; ASX: PLL), a leading North American lithium supplier supporting the U.S. electric vehicle industry, reported a shipment of around 31,500 dry metric tons (dmt) of spodumene concentrate in Q3 2024, setting new records for production and operational performance at its jointly-owned North American Lithium (NAL) facility. NAL, North America’s largest spodumene mine, is owned by Piedmont (25%) and Sayona Mining Limited (75%) (ASX: SYA).
To accommodate a customer request, Piedmont has moved a scheduled shipment from Q4 2024 to early Q1 2025. This adjustment sets Q4 spodumene concentrate targets at roughly 55,000 dmt, with total 2024 shipments expected around 116,000 dmt. This slight shift from the previously guided 126,000 dmt for 2024 will positively impact 2025 shipment totals, with no change to Piedmont’s total contracted quantities from NAL.
Q3 2024 Operational Highlights
Piedmont Lithium Key Metrics
- Concentrate Shipped: 31.5 kt dmt (+125% QoQ)
- Average Grade: ~5.4% Li2O
NAL Key Metrics
- Ore Mined: 240.3 kt wmt (+3% QoQ)
- Concentrate Produced: 52.1 kt dmt (+5% QoQ)
- Mill Utilization: 91% (new record)
- Lithium Recovery: 67%
- Concentrate Shipped: 49.0 kt dmt (+77% QoQ)
In Q3, NAL produced 52,141 dmt and shipped 48,992 dmt, including 31,500 dmt sold to Piedmont’s customers. Production rose 5% from Q2, aided by enhanced mill utilization from new ore-crushing facilities, reducing operating costs by 15% (excluding inventory impacts). Although recoveries slightly declined due to feed grade adjustments and increased use of WHIMS magnetic separators, NAL recorded its first injury-free month since restarting in 2023, marking a significant safety milestone.
Keith Phillips, President and CEO of Piedmont Lithium, remarked, “We’re pleased to see our investments at NAL yielding results, solidifying its position as North America’s largest spodumene mine. Continued operational improvements and Sayona’s recent Mineral Resource Estimate update lay the groundwork for potential future growth at NAL.”
For more information on Piedmont Lithium, visit www.piedmontlithium.com.
About Piedmont Lithium
Piedmont Lithium Inc. aims to be a leading North American lithium hydroxide producer, processing spodumene concentrate from its economic interests. The company’s projects include the Carolina Lithium project in the U.S. and partnerships in Quebec with Sayona Mining and in Ghana with Atlantic Lithium. Piedmont’s geographically diverse operations support North America’s energy independence and electrification goals.
Cautionary Note to U.S. Investors
Piedmont’s disclosures comply with U.S. reporting standards under the Exchange Act of 1934, differing from the JORC Code or NI 43-101 used by NAL. Investors should note that NAL’s reports, based on non-U.S. standards, may not align with U.S.-based reporting protocols.
For original announcements by NAL, refer to Sayona Mining Limited’s Q3 2024 report filed with the ASX on October 24, 2024.
