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Piedmont Lithium secures offtake agreement and invests $12M into lithium developer Sayona Mining

Piedmont Lithium Ltd (ASX:PLL) (NASDAQ:PLL) CEO Keith Phillips tells Proactive the group has made a $12 million strategic investment in Quebec hard-rock lithium developer Sayona Mining Ltd (ASX:SYA) (OTCMKTS:DMNXF) (FRA:DML), as well as a binding supply agreement for at least 50% of Sayona Quebec’s planned spodumene concentrate production.

Phillips says from a resources and reserves perspective, and the spodumene supply agreement will offset Piedmont's Tesla commitments in the near term and position the group for longer-term growth in lithium hydroxide production.

Quick facts: Piedmont Lithium Ltd

Price: 0.545 AUD

ASX:PLL
Market: ASX
Market Cap: $754.99 m
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on 11/12/2020

2 min read