Commencement Of Scoping Study For Piedmont Lithium Project
NEW YORK, Jan. 23, 2018 /PRNewswire/ -- Piedmont Lithium Limited (ASX: PLL, OTC-Nasdaq: PLLLY) ("Piedmont" or "Company") is pleased to announce the appointment of Primero Group and CSA Global to commence and manage a Scoping Study ("Scoping Study") on the Company's Piedmont Lithium Project ("Project"), located within the world-class Carolina Tin-Spodumene Belt ("TSB") in North Carolina, USA.
The Scoping Study will address an integrated Project including mine, concentrator, and lithium conversion plant. The location of the Project in mining-friendly North Carolina is expected to provide many positive advantages to the integrated Project, given the Project's proximity to:
- existing natural gas and power infrastructure;
- large, educated, and low-cost workforce with experience in lithium sector;
- major transportation infrastructure;
- existing major downstream lithium processing facilities; and
- major US battery customers (GM, BMW, Nissan, Mercedes, Tesla, etc.).
The Company expects to complete the Scoping Study early in Q3 2018. The Scoping Study will be published shortly after the announcement of a maiden Resource, which is expected in Q2 2018.
Primero Group has been appointed as lead engineer and will focus on the concentrator and lithium conversion plant aspects of the Study. Primero Group brings valuable hard rock lithium experience to the Project, having been engaged on recent projects in Australia and Canada at the scoping, feasibility, and EPC project delivery level. Managing Director, Cameron Henry, commented, "We are very pleased to be continuing our relationship with the Piedmont team through the development stages of both the upstream and downstream processing facilities of their project. Our chemical and hydrometallurgical team is working on a number of similar projects currently and the award of this scope of works demonstrates the sound capability and strength of the growing business unit globally. We look forward to more news flow in the coming months on the developing Piedmont story."
CSA has been appointed to complete the mine design, and has been working with Piedmont on resource geology, QA/QC, and database management on the Project. President of the Americas for CSA Global, Stan Wholley, stated, "By leveraging CSA Global's strong international lithium development experience and the high quality of Piedmont's local technical team, we are working to rapidly advance towards the Mineral Resource and Scoping Study stage. Given the desirable location and excellent infrastructure, Piedmont is in a strong position to rapidly advance this asset."
Keith D. Phillips, President and Chief Executive Office, said, "We are extremely pleased with the appointment of respected engineering consultants Primero and CSA Global. The experience and ability that these companies bring to Piedmont Lithium's Scoping Study efforts will add value to our exciting Project as the Company begins its next stage of project development. The addition of a conversion plant to the Scoping Study potentially enhances Piedmont's position as one of the world's best-located lithium projects. In parallel with these engineering study efforts Piedmont expects to begin its permitting process and metallurgical test work programs within Q1 2018."
For further information, contact:
Keith D. Phillips
Anastasios (Taso) Arima
President & CEO
T: +1 973 809 0505
T: +1 347 899 1522
About Piedmont Lithium
Piedmont Lithium Limited (ASX: PLL; OTC-Nasdaq: PLLLY) holds a 100% interest in the Piedmont Lithium Project ("Project") located within the world-class Carolina Tin-Spodumene Belt ("TSB") and along trend to the Hallman Beam and Kings Mountain mines, historically providing most of the western world's lithium between 1950 and 1990. The TSB has been described as one of the largest lithium provinces in the world and is located approximately 40 kilometres west of Charlotte, North Carolina. It is a premier location to be developing and integrated lithium business based on its favourable geology, proven metallurgy and easy access to infrastructure, power, R&D centres for lithium and battery storage, major high-tech population centres and downstream lithium processing facilities.
The Project was originally explored by Lithium Corporation of America which eventually was acquired by FMC Corporation ("FMC"). FMC and Albemarle Corporation ("Albemarle") both historically mined the lithium bearing spodumene pegmatites within the TSB and developed and operated the two lithium processing facilities in the region which were the first modern spodumene processing facilities in the western world.
The Company is in a unique position to leverage its position as a first mover in restarting exploration in this historic lithium producing region with the aim of developing a strategic, U.S. domestic source of lithium to supply the increasing electric vehicle and battery storage markets.
Forward Looking Statements
This announcement may include forward-looking statements. These forward-looking statements are based on Piedmont's expectations and beliefs concerning future events. Forward looking statements are necessarily subject to risks, uncertainties and other factors, many of which are outside the control of Piedmont, which could cause actual results to differ materially from such statements. Piedmont makes no undertaking to subsequently update or revise the forward-looking statements made in this announcement, to reflect the circumstances or events after the date of that announcement.
SOURCE Piedmont Lithium Limited
Released January 23, 2018