Piedmont doubles mine life for US project
KALGOORLIE (miningweekly.com) – An updated scoping study into the vertically integrated Piedmont lithium project, in North Carolina, has increased the overall projected mine life from an initial 13 years, to 25 years.
The updated scoping study incorporated the expanded mineral resource at the Piedmont project, and was based on annual production of 22 700 t/y of lithium hydroxide.
The updated scoping study has estimated a net present value of $1.45-billion, compare with the $777-million estimated in the original 2018 scoping study, while the internal rate of return has decreased from 56% to 34%.
Initial capital costs for the mine and concentrator have increased slightly from $130-million to $168-million, while projected steady-state annual average earnings before interest, taxes, depreciation and amoritisation have increased from $220-million to $298-million.
“We are very pleased with the result of the updated scoping study, which reflects the benefit of a 25-year mine life, a refined concentrator flow sheet, and prefeasibility-level engineering and metallurgy,” said Piedmont president and CEO Keith Phillips.
“The economic benefit of developing an integrated lithium chemical business in North Carolina is clear, driven by the exceptional infrastructure and human resource advantages of our location, as well as the competitive royalty and tax regime offered in the US.”
Phillips said that the company would continue to progress Piedmont through the permitting and feasibility process, but would redouble its efforts on the strategic front by accelerating lithium hydroxide testwork and intensifying its initial strategic discussions with potential strategic, offtake and financial partners.
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