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Piedmont Submits Application for North Carolina Mine Permit and Draft Application for U.S. Department of Energy Loan
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Rhea-AI Summary
Piedmont Lithium Inc. (Nasdaq: PLL) has submitted two key applications for its Carolina Lithium Project, aimed at enhancing North America's electric vehicle supply chain. The first, filed on August 30, 2021, is for a North Carolina State Mining Permit. The second, submitted on August 31, 2021, is a draft loan application to the U.S. Department of Energy’s ATVM Loan Program, which has $17.7 billion available for qualifying companies. CEO Keith Phillips emphasized the importance of these applications for advancing the project while ensuring safety and environmental protections.
Positive
Submitted mining permit application for Carolina Lithium Project, a crucial step for project advancement.
Draft loan application submitted to the U.S. Department of Energy's ATVM Loan Program, potentially accessing $17.7 billion in funding.
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BELMONT, N.C.--(BUSINESS WIRE)--
Piedmont Lithium Inc., (“Piedmont” or the “Company”) (Nasdaq: PLL, ASX: PLL), a multi-asset company focused on the integrated production of lithium hydroxide to support the North American electric vehicle supply chain, today announced it has submitted two applications related to the Company’s Carolina Lithium Project.
On August 30, 2021, the Company filed its application for a North Carolina State Mining Permit with the N.C. Department of Environmental Quality’s Division of Energy, Mineral and Land Resources.
Additionally, on August 31, 2021, the Company submitted a draft loan application to the U.S. Department of Energy’s Loans Program Office for loan funding via the Advanced Technologies Vehicle Manufacturing (“ATVM”) Loan Program. The ATVM has $17.7 billion in direct loan authority to provide funding to U.S. companies engaged in the manufacturing of fuel efficient, advanced technology vehicles and qualifying components supporting the automotive supply chain.
The timeline for the review and response with respect to each application is subject to the established processes and procedures of the respective responsible agency.
“Submitting our mine permit application with the State of North Carolina is an important and necessary step in advancing our Carolina Lithium Project in Gaston County, North Carolina,” said President and CEO of Piedmont Lithium, Keith Phillips. “We have been extremely rigorous in planning our operations, with an intense focus on safety, sustainability, and environmental protections within the communities where we plan to operate. We welcome the review by the State and look forward to their response. And as we consider a variety of funding sources for our Carolina Lithium Project, we’re excited about the possibility of participating in the ATVM Loan Program. This program was specifically designed to assist companies like ours that are working to help build a domestic source of components and materials to support the electric vehicle supply chain in the U.S.,” added Phillips.
Brian Risinger VP - Investor Relations and Corporate Communications
T: +1 704 910 9688
E: brisinger@piedmontlithium.com
Source: Piedmont Lithium Inc.
FAQ
What is the latest update on Piedmont Lithium Inc. (PLL) regarding the Carolina Lithium Project?
Piedmont Lithium has submitted two applications, one for a North Carolina mining permit and another for a loan through the U.S. Department of Energy's ATVM program.
When did Piedmont Lithium (PLL) submit its applications for the Carolina Lithium Project?
The applications were submitted on August 30 and August 31, 2021.
What is the purpose of Piedmont Lithium's (PLL) applications?
The applications aim to secure a North Carolina State Mining Permit and funding through the U.S. Department of Energy's ATVM Loan Program.
How much funding is available through the ATVM Loan Program for companies like Piedmont Lithium (PLL)?
The ATVM Loan Program has $17.7 billion in direct loan authority for qualifying companies.
What are the key focuses of Piedmont Lithium's (PLL) operations in the Carolina Lithium Project?
Piedmont Lithium emphasizes safety, sustainability, and environmental protections in its operations.
