Piedmont Lithium's Tennessee Project: Supercharging US Lithium Hydroxide Production

US: Piedmont Lithium Inc., the company is emerging as a formidable player in the rapidly growing US Lithium sector. They are making significant strides towards establishing themselves as a dominant force in the industry. For Piedmont's proposed Tennessee Lithium project in McMinn County, Tennessee, the Tennessee Department of Environment and Conservation has awarded a Conditional Major Non-Title V Construction and Air Permit (air permit). The license enables the business to move forward with the construction of its 30,000 metric ton per year (tpy) Lithium Hydroxide manufacturing facility, which will enable it to more than triple current domestic production capacity.

Piedmont Lithium is prepared to begin building at Tennessee Lithium, representing an investment of over $800 million, given that it has obtained the required material permissions. The project's objective is to increase the country's current 17,000 tpy Lithium Hydroxide production capability. Tennessee Lithium is ideally situated in America's developing battery belt to supply the domestic market with essential, Made in America Lithium resources, according to Keith Phillips, president, and CEO of Piedmont Lithium.

Team has been concentrating on permitting, engineering, and working with local officials to get this project ready to serve the supply chain for electric vehicle and battery manufacture since announcing the choice of the site in McMinn County, Tennessee, about a year ago. This conversion facility will be essential in the domestic endeavour to lessen dependency on foreign countries for Lithium processing as the demand for Lithium Hydroxide continues to rise in the US.

For the Tennessee Lithium project, the business has published a definitive feasibility study (DFS), which showed strong project economics. The beneficial effects of American clean energy policies and the value of Piedmont Lithium's hard-rock production technique were highlighted by the DFS, project with a net present value of $2.5 billion and an internal rate of return of 32% was revealed by the analysis. Piedmont Lithium obtained a $141.7 million grant from the US Department of Energy in October 2022 to help the project even more. The company is in talks with potential strategic partners to secure the remaining financing needed for the project while the grant's funding procedure is in progress. Additionally, Piedmont Lithium is progressing in its efforts to involve the neighborhood and enhance the local community. Plans to rent and remodel office space in the heart of Etowah, Tennessee, hope to revitalize the neighborhood.

Additionally, the business has started workforce development initiatives in partnership with nearby technical colleges, developing training programs and curricula for positions. 120 people are anticipated to be employed by Tennessee Lithium once it is operating; hiring is scheduled to start in the second half of 2023 and continue through 2026 to support the construction and get ready for commercial production.

In line with the nation's pro-electric car policy, Piedmont Lithium's commitment to increasing Lithium Hydroxide production in the U.S. creates new opportunities for growth and energy independence. The Tennessee Lithium site plans to start construction in 2024, with the first production expected in 2026. The nation's Lithium sector appears to be in a position for major growth and development as the project moves forward.