- US-primarily based Piedmont Lithium to commit $US12m ($15.5m) in Canada-based lithium explorer Sayona Mining
- Offtake deal for 60,000 tonnes for each calendar year of Quebec spodumene focus for Piedmont’s US challenge in North Carolina
- Offer generates lithium hub in Quebec’s Abitibi region to supply North American and Global battery marketplaces
Piedmont Lithium’s (ASX:PLL) acquisition of a strategic stake in Canada-centered lithium explorer Sayona Mining (ASX:SYA) highlights the value to US-centered EV makers of owning a comparatively small source chain and accessibility to nearby supply sources.
Outgoing US President Donald Trump signed an Govt Order in Oct that sought to decrease US dependence on imported supplies of 35 vital minerals like antimony, cobalt, graphite, lithium and tantalum.
Piedmont Lithium secured in September a significant supply deal with Tesla for lithium hydroxide creation from its North Carolina facility which is focusing on creation of 22,700 tonnes for each year.
Tesla, as an