Piedmont Lithium reports Q4 North American Lithium results

Piedmont Lithium (PLL) shipped approximately 55,700 dry metric tons of spodumene concentrate in Q4’24. NAL, North America’s largest producing spodumene mine, is jointly owned by Piedmont – 25% – and Sayona Mining – 75% -. In Q4’24, NAL produced 50,922 dmt and shipped 66,035 dmt. Approximately 55,700 dmt of spodumene concentrate were sold to Piedmont and then shipped to its customers. Although quarterly production at NAL declined by 2% in Q4’24 compared to the prior quarter, production remains on track to achieve Sayona Mining’s FY25 production guidance of 190,000-210,000 dmt2. Mill utilization of 90% in Q4’24 declined modestly from the record high of 91% in the prior quarter and was negatively impacted by a planned shutdown in October and other weather-related impacts in the crushing circuit. The Crushed Ore Dome mitigated the impact of the shutdown by enabling consistent feed and operations during the quarter. Recoveries improved to 68% for the quarter and were in-line with the life-of-mine target outlined in the 2023 Definitive Feasibility Study. Piedmont Lithium and Sayona Mining signed a definitive agreement to merge in an all-stock transaction on November 18, 20243. The merged entity will create a leading North American hard rock lithium producer and simplify the ownership structure of North American Lithium.