Piedmont Lithium Inc (ASX:PLL, NASDAQ:PLL, XETRA:) has welcomed a temporary development moratorium introduced by the Gaston County Board of Commissioners — a regulatory body responsible for the region where Piedmont hopes to build one of the largest lithium mines in the United States.
The county instated the 60-day deliberation period so it would have time to review its current industry regulations and their potential impact on future operations roughly three weeks after Piedmont presented on its Carolina Lithium Project.
As the Board of Commissioners conducts due diligence, the ASX lister will progress a definitive feasibility study, which is scheduled for publication before year’s end, and submit a state mining permit in North Carolina.
Piedmont Lithium CEO Keith Phillips said: ”We would like to thank the Gaston County Board of Commissioners for their leadership in creating this framework and review structure where the county and the company can move forward together.
“Time to perform due diligence”
In today’s ASX announcement, Phillips continued: “We wholeheartedly agree that it’s important for the commissioners to have the time to review existing state and county regulations and how they may apply to plans for the Carolina Lithium Project.
“We note that the counsel representing the county made clear in a statement during the special meeting that Gaston County support economic growth and development, and that the resolution is not intended to stop mining but rather to give the county time to perform their due diligence.
“We look forward to engaging with the commissioners and the broader community regarding our commitment to environmental stewardship and economic prosperity for the county as we work to advance the United States supply chain for a low-carbon economy.”
Carolina Lithium Project
In late July, Piedmont brought its plan for an integrated lithium production business to the Gaston county and community, outlining how it intends to supply the electric vehicle supply chain in the US and around the world.
Piedmont hopes its operations will position the county as a significant part of that supply chain, with the Carolina Lithium Project estimated to produce 30,000 tonnes of lithium hydroxide every year, according to a June scoping study.
The project is expected to generate roughly 500 jobs and bears a 20-year mine life.
Currently, permitting work is underway and Piedmont intends to submit its North Carolina state mining permit later this month.
Ultimately, the ASX-lister believes its location in the renowned Carolina Tin Spodumene Belt positions the business to be one of the world’s lowest-cost producers of lithium hydroxide.