Piedmont Lithium gets partial prepayment for shipment of lithium concentrate

Piedmont Lithium announced receipt of a $31.6M partial prepayment for the sale of 15,000 dry metric tons of 5.4% Li2O lithium concentrate on an FOB vessel basis to a major international trading company. Vessel loading is scheduled for mid-September. The prepayment increased Piedmont’s cash position to approximately $100M, reinforcing Piedmont’s strong balance sheet. North American Lithium commenced commercial production in March 2023 and delivered its first joint venture shipment of 20,500 dmt to a third-party in early August. Production ramp up continues to progress well, and Piedmont expects to receive, at a minimum, its full 2023 offtake allocation of 56,500 dmt of lithium concentrate, with the balance to be sold by the joint venture.