PLL on Australian Securities Exchange

Piedmont Lithium

American mining company

Piedmont Lithium is an American mining company in the process of proving economic mineral recovery of lithium at sites in North Carolina, Tennessee, Canada, and Ghana. The company has done business deals with Tesla and is planning to invest in a $1.8 billion mine in Gaston County, North Carolina.2 Its shares trade on Australian Securities Exchange under the symbol PLL.1 Wikipedia text CC BY-SA 4.0

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Last updated Oct 20, 2026.

Overview

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  • TickerPLL on Australian Securities Exchange1

Piedmont Lithium is an American mining company in the process of proving economic mineral recovery of lithium at sites in North Carolina, Tennessee, Canada, and Ghana.2

The story

Background

"The modern lithium-mining industry started in this North Carolina region in the 1950s, when the metal was used to make components for nuclear bombs. One of the world’s biggest lithium miners by production, Albemarle Corp, is based in nearby Charlotte. As of March 2021, nearly all of Albemarle's lithium is extracted in Australia and Chile, which have large, accessible deposits of the metal." As of 2021, just one percent of global lithium supply is both mined and processed in the United States (3,150 t (6,940,000 lb)), while 233,550 t (514,890,000 lb) is produced in Australia and Chile.

Lithium is classified as a critical mineral by the US department of energy, as “it is the major ingredient in the rechargeable batteries found in electronics”. Piedmont Lithium president and CEO Keith Phillips stated his goals with the mineral are, “to be a leading supplier of lithium resources to the growing EV [electric vehicle] and stationary storage supply chains”. The demand for lithium has shifted in turn towards consumer electronics since the beginning of the modern lithium-mining industry. This demand is only predicted to increase in the coming decades.

History

Piedmont Lithium Ltd was founded as an Australian company in 2016. Cofounders included Australian financier Taso Arima and US geologist Lamont Leatherman, who raised several million dollars of seed funding to start the firm. Arima read about the prospecting work Leatherman had done in the Gaston County, North Carolina area. Leatherman had explored the area for lithium in surface rock in the late 2000s after thinking back to "the green-striped rocks in the yard of his childhood home in [the area]. The rocks contained rich veins of lithium."

From Wikipedia’s article on Piedmont Lithium, shared under CC BY-SA 4.0.3

Products and brands

Prior to their merger with Sayona Mining, Piedmont Lithium held multiple shares and deals in the mining industry. In the summer of 2023, the at-the-time joint mine with Sayona in Quebec brought in a total of $47 million in sales and provided Piedmont with a “$22.9 million dollar profit, the first in the company’s history”. Piedmont Lithium's CEO, Keith Phillips, called the quarter of sales “transformational” for the company as stock prices rose.

In September 2020, Piedmont signed a sales agreement with Tesla to supply high-purity lithium ore for up to ten years, specifically to supply "spodumene concentrate ('SC6') from Piedmont's North Carolina deposit to Tesla."

As of early 2021, Piedmont was exploring by drilling many sample cores across 2,300 acres (930 ha) of land it owns or has mineral rights to in Gaston County that surface prospecting had previously shown to contain substantial hard rock mineral deposits in the surface rock.

With substantial demand growth for lithium occurring in the 2020s, lithium mining and production companies are growing and some are experiencing marked increases in market valuation. The stock prices of Piedmont Lithium, as well as Lithium Americas and MP Materials, increased substantially in early 2021 as a result of the increased importance of lithium to the global economy.

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In March 2021, Piedmont Lithium Ltd proposed a "re-domiciliation from Australia to the United States" under which a newly formed US corporation, Piedmont Lithium Inc, would acquire the Australian Company, if approved by the shareholders of Piedmont Lithium Ltd. Shareholders approved the proposal on April 29, 2021. and the company became redomiciled as a US corporation on May 17, 2021.

The North Carolina state mining permit for the $1 billion Carolina Lithium project and its 500-foot deep mine was issued on 15 April 2024. This mining venture, promising $3.9 billion in cumulative economic output, is nearing its final stages of preparation. A US$1 million reclamation bond will need to be posted before site work can begin, and a local zoning variance will need to be issued.

Legal Proceedings

The money garnered from the Quebec mine will be going towards Piedmont's projects in Gaston County, North Carolina and Tennessee. These projects will cost the company $1.8 billion and $800 million respectively. In the Fall of 2023, Phillips said that “[Piedmont Lithium] decided not to accept a $141.7 million federal Department of Energy (DOE) grant to help pay for the Tennessee plant”. The company declined the loan because they say they need more money for the Tennessee plant. Instead, Piedmont is trying to obtain a DOE Advanced Technology Vehicle Manufacturing Loan which will give the company more money.

This mine would significantly increase Piedmont Lithium's stock which will “keep investors happy”. Piedmont's strategy is to meet the lithium mining demands of the US market and provide lithium to “automobile and battery makers” such as Tesla. The market for electric vehicles and batteries has been expanding and Piedmont plans to “ramp up production to fill that demand”.

From Wikipedia’s article on Piedmont Lithium, shared under CC BY-SA 4.0.3

Timeline

  1. Mar 28, 1983Went public Listed on Australian Securities Exchange1

Members of Congress who traded it

1 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.

DateMemberTradeAmountVs S&P sinceFiling
Oct 12, 2022Christopher L. Jacobs, HouseBuy$1,001 - $15,000Report

Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).

Sources

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