Piedmont Lithium Announces Q1’24 North American Lithium Production Results - Seite 2

Q3’23

Ore Mined

kt wmt

351.1

9%

322.4

224.4

Concentrate Produced

kt dmt

40.4

18%

34.2

31.5

Plant (Mill) Utilization

%

73%

(2%)

75%

72%

Lithium Recovery

%

67%

5%

62%

58%

Concentrate Shipped

kt dmt

58.1

142%

23.9

48.2

In Q1’24, 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. An approximately 13,200 dmt shipment held over from 2023, combined with our contracted 113,000 dmt annual offtake from NAL, underpins Piedmont’s plan for full-year shipments of approximately 126,000 dmt of spodumene concentrate in 2024.

NAL increased quarterly production by 18% in Q1’24 compared to the prior quarter. Safety performance also improved as NAL achieved its lowest quarterly recordable incident rate since the start of operations in March 2023.

Notably, March 2024 was a record production month at NAL with 15,699 dmt of spodumene concentrate produced and three daily production records set between 710 dmt and 750 dmt. Lithium recoveries also reached a record 69% during March 2024.

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.

“NAL is the largest producing spodumene operation in North America, and as such, is a tremendously strategic asset. We are pleased to see production continue to set quarterly records and hopeful that NAL will hit steady-state production targets with the commissioning of the crushed ore dome,” said Keith Phillips, President and CEO of Piedmont Lithium. “We are optimistic about the recent upturn in lithium prices, and we look forward to commencing regular shipments to our contract customers as the year progresses.”