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.