Piedmont Lithium provides Q1 North American Lithium production results

Piedmont Lithium shipped approximately 15,500 dry metric tons – dmt – of spodumene concentrate in Q1 as North American Lithium, or NAL, achieved new quarterly and monthly production records in its ongoing ramp up to steady-state operations. NAL is forecasted to achieve full run-rate production by H2’24.1 Piedmont expects to ship approximately 126,000 dmt of spodumene concentrate in 2024, weighted toward the second half of the year and with quarterly variations due to shipping logistics and customer requirements. In Q1, NAL produced 40,439 dmt and shipped 58,055 dmt, of which approximately 15,500 dmt of spodumene concentrate were sold to Piedmont via the company’s offtake agreement and shipped to Piedmont customers. Piedmont plans for full-year shipments of approximately 126,000 dmt of spodumene concentrate in 2024. NAL increased quarterly production by 18% in Q1 compared to the prior quarter. Construction of the crushed ore dome is materially completed with commissioning underway and expected to conclude in Q2’24. This capital project is expected to result in continued improvements in mill utilization and further increases in quarterly production levels.