Last Friday, the company informed the market that it now golds all the material permits required to begin construction, which is targeted for 2024.
The $800 million Tennessee Lithium project has a planned capacity of 30,000 tonnes per year of lithium hydroxide, tripling current domestic production. In October last year, Piedmont received a $141.7 million grant from the US Department of Energy.
Piedmont Lithium president and chief executive officer Keith Phillips applauded the successful work of the project team in advancing Tennessee Lithium toward becoming a world-class lithium manufacturer and key contributor to US energy security.
“Tennessee Lithium is uniquely positioned in America’s emerging battery belt to supply the domestic market with crucial, made-in-America lithium resources,” said Phillips.
“Since announcing the selection of the site in McMinn County, Tennessee nearly one year ago, our team has been focused on permitting, engineering, and working with local officials to prepare this project to support the electric vehicle and battery manufacturing supply chain.
“As demand for lithium hydroxide continues to soar in the US, this conversion facility will be key in the domestic effort to reduce reliance on foreign nations for lithium processing.”
Piedmon has attained advisors for financing and offtake agreements. First production is forecasted for 2026.