Piedmont Lithium shares jump on amazing Tesla news
The Lithium explorer announces a large sales agreement with the EV car manufacturer.

Piedmont Lithium Limited (NASDAQ: PLL) to supply Tesla (NASDAQ: TSLA) with spodumene concentrate from its North Carolina deposit in Piedmont. The agreement has an initial term of five years with a binding purchase obligation at a fixed price and can be extended for a second term of five years. The SC6 sales are expected to generate between 10% -20% of the company's total revenue from the proposed integrated mine-to-hydroxide project during the first five-year term. The start date for spodumene concentrate shipments should be between July 2022 and July 2023 based on the development plans of both parties. Commented Keith D. Phillips, President and Chief Executive Officer, "We will now accelerate the development of our mine / concentrator to support Tesla's plans to further expand our mineral resources and potentially increase our planned annual production capacity for spodumene concentrate we will advance our plans to produce lithium hydroxide in North Carolina using a combination of internally produced spodumene concentrate and materials sourced from other producers around the world. " Share in the pre-market increased by 219%.





