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Piedmont Lithium Hits Record Lithium Production in Q1’24, Aims for Increased Shipments

Piedmont Lithium (Nasdaq: PLL; ASX: PLL) announced its Q1’24 achievements, marking significant progress in North American lithium production. The company shipped around 15,500 dmt of spodumene concentrate and saw a record quarterly production of 40,439 dmt at its North American Lithium (NAL) operation. March brought a new monthly record with 15,699 dmt produced and a lithium recovery rate of 69%.

Q1’24 Operational Highlights

Piedmont Lithium proudly achieved new records in Q1’24. The company shipped 15,500 dmt of spodumene concentrate and produced 40,439 dmt in total. With a steady increase in production and efficiency, Piedmont eyes steady-state operations in the latter half of the year. This ambition aligns with Piedmont’s goal to ship approximately 126,000 dmt of spodumene concentrate in 2024, forecasting a significant rise in the latter quarters.

Notable Production Advances in March

March saw Piedmont setting daily and monthly production records, underscoring the operation’s growing efficiency and capacity. A notable lithium recovery rate of 69% was achieved, showcasing Piedmont’s commitment to enhancing production processes.

Strategic Projects and Future Outlook

The completion of the crushed ore dome, expected in Q2’24, represents a pivotal step towards optimizing operations. The company’s President and CEO, Keith Phillips, remains optimistic about Piedmont’s strategic positioning and its crucial role within the electric vehicle supply chain. With a focus on contract shipments, Piedmont aims to mitigate exposure to volatile market dynamics, while the anticipated upturn in lithium prices suggests a favorable outlook for the year ahead.

About Piedmont Lithium: Piedmont Lithium is at the forefront of developing a comprehensive lithium business in North America. By leveraging geographically diversified operations, the company supports the transition to clean energy, contributing significantly to the electric vehicle and energy storage sectors.

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