RE: VERY INTERESTING13 Jan 2022 12:09
appologies i see you guys were on it already BUT i feel this is way undervalued with Piedmont already factored in with Tesla the world No1!
GUYS READ THIS!!!! Piedmont I believe have ear marked Atlantic Lithium as their preferred source of Lithium
WHICH IS WHY THEY HAVE DELAYED THEIR CHARLOTTE USA MINE:
Piedmont last autumn signed a deal to supply U.S. electric automaker Tesla with lithium sourced from its deposits in North Carolina, sending the company’s stock up tenfold.
Piedmont has also hired investment banks to find investors for its $840 million project, which would include an open-air pit more than 500 feet (152 m) deep and facilities to produce lithium-based electric vehicle (EV) battery chemicals.
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The company, however, has not applied for a state mining permit or a necessary zoning variance in Gaston County, just west of Charlotte, despite telling investors since 2018 that it was on the verge of doing so.
Five of the seven members of the county’s board of commissioners, who control zoning changes, say they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected.
“Piedmont has sort of put the proverbial cart before the horse,” said Tom Keigher, chair of the board of commissioners. “Why in the world would they make this deal with Tesla before they even have approval for the mine?”
Piedmont said it waited to approach officials in order to refine its plans - it published a third iteration last month - and to secure a customer to show that the mine could stay open for its projected 20-year lifespan.
“We finally have a project to debut and really talk about,” said Keith Phillips, Piedmont’s chief executive officer.
“Maybe it would have been better had (commissioners) been in the loop constantly. We didn’t really have the time or resources to do it and we didn’t even know what to tell them, until now.”
The deteriorating relationship between Piedmont and county leaders reflects broader tension in the United States as resistance to living near a mine clashes with the potential of EVs to mitigate climate change.
Piedmont has already spent $58 million on the project, which would produce about 30,000 tonnes of lithium annually, enough to make about 3 million EVs.
The company originally planned to put its chemical plant in a neighboring county, but now intends to build it near the mine, a step that should reduce truck traffic. Piedmont also plans to crush rock in the mine pit, alleviating dust, and incorporate solar power.
Tuesday meeting
In September 2018, Piedmont told investors it expected to obtain permits by the end of 2019. In August 2019, executives said they would apply for permits and rezoning “in the coming months.”
Piedmont said both times it was “not aware” of any reason why the county would not approve zoning changes, even though it had yet to present any informatio
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