It has been a busy third quarter for Piedmont Lithium (ASX:PLL, OTC:PLLTL) at the North American Lithium (NAL) joint venture in Quebec, Canada, with the spodumene concentrate operation notching record production.
With its lithium projects, including the NAL partnership in Quebec with Sayona Mining Ltd (ASX:SYA) and the Atlantic Lithium partnership in Ghana, Piedmont is settling into its pivotal role in the lithium supply chain, supporting the drive in the US towards net zero and energy independence.
Largest spodumene producer in North America
The NAL mine, a joint venture with Sayona in which Piedmont holds a 25% stake, registered a quarterly production high of 52,141 dry metric tonnes (dmt) of spodumene concentrate, a 5% increase from the previous quarter.
Operational efficiencies were key to NAL’s performance this quarter, with mill utilisation reaching a record 91% due to the commissioning of a new crushed ore dome.
“We are pleased to see the benefits from investments made at NAL during the last quarter, with the increase in quarterly production cementing NAL’s status as the largest spodumene-producing mine in North America,” Piedmont Lithium (ASX:PLL, OTC:PLLTL) president and CEO Keith Phillips said.
“Operational performance continues to improve on a quarterly basis and Sayona’s recent announcement of the increase to the mineral resource estimate lays the foundation for potential growth at NAL in the future.”
Lithium recovery remained steady at 67%, only slightly down from Q2’s 68% due to minor reductions in feed grade and increased reliance on magnetic separation technology.
Cost efficiencies, infrastructure investments
Enhanced utilisation has also driven down unit operating costs by 15% quarter-on-quarter, excluding inventory effects, demonstrating the operational benefit of recent infrastructure investments.
Piedmont shipped around 31,500 dmt of spodumene concentrate to its customers in Q3, contributing to a year-to-date shipment total of 60,900 dmt, more than double the 29,000 dmt shipped in the same period in 2023.
An additional shipment initially slated for the current quarter will instead be delivered in early 2025 at a customer’s request.
As a result, Piedmont is targeting Q4 shipments of 55,000 dmt, aiming for around 116,000 dmt for the full year, just below the previously projected 126,000 dmt.
This adjustment is not expected to impact overall offtake quantities from NAL and could benefit the company’s 2025 figures.
Safety performance at NAL also improved notably, with September marking the first incident-free month since the mine resumed operations in 2023.
The milestone included zero lost-time injuries, modified duty injuries, or medical aid cases, underlining the effectiveness of NAL’s safety protocols.