Piedmont Lithium's Q3 2024 Operational Success

Piedmont Lithium (ASX:PLL) has announced its Q3 2024 operational results, achieving a record production of 52,141 dry metric tons (dmt) of spodumene concentrate, marking a 5% increase from the previous quarter. The company's North American Lithium (NAL) operations also saw significant improvements in mill utilization and lithium recovery rates.

Q3 2024 Results and Future Plans

Piedmont Lithium has reported record production levels for Q3 2024, with a notable 5% increase in spodumene concentrate output compared to Q2. The company's operational efficiency has improved with a 91% mill utilization rate and a 67% lithium recovery rate. Safety performance also saw progress, achieving an incident-free September. Piedmont shipped approximately 31,500 dmt of spodumene concentrate in Q3 and aims to ship 55,000 dmt in Q4. Adjustments in shipment schedules are set to benefit 2025 totals, aligning with the company's broader strategy to expand its lithium operations across North America. With a 25% stake in NAL, Piedmont continues to position itself as a key player in the U.S. electric vehicle supply chain, aiming to become one of the largest lithium hydroxide producers in the region.

Executive Commentary on Q3 Performance

Our Q3 results reflect our strong operational performance and commitment to meeting the growing demand for lithium. We are particularly proud of achieving our first incident-free month since the restart of operations. This milestone underscores our dedication to safety and operational excellence. Looking ahead, we are focused on expanding our lithium business across North America.