Business
Tesla deal sends lithium minnow up 90 per cent – The Australian Financial Review
Small-cap lithium miner Piedmont Lithium’s shares soared after it announced the signing of a five-year deal with electric carmaker and battery giant Tesla.
The company had planned to extract 160,000 tonnes of spodumene concentrate a year for the next five years. But chief executive and president Keith Phillips said the company may now ramp up production. The lithium carbonate content of the concentrate averages around 6 to 7 per cent.
He said the deal with Tesla marked “the start of the first US domestic lithium supply chain and a disruption to the current value chain”.
The US makes up a tiny fraction of global lithium supplies, with Australia by…
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