(Reuters) – Miner Piedmont Lithium said that it had received a long-delayed permit for starting the construction its lithium mine from North Carolina regulators in a further boost to the supplies of the electric vehicle battery component in the United States. The proposed mine, which can produce 30,000 metric tons of lithium hydroxide per year, could become one of North America’s largest sources of Lithium. It had run into regulatory hurdles after local residents, worried about the project’s environmental impact, raised objections. Shares of Piedmont, which first applied for the permit in August 2021, rose 24% in premarket trade. “We plan to develop Carolina Lithium as one of the lowest-cost, most sustainable lithium hydroxide operations in the world,” said CEO Keith Phillips. Piedmont Lithium has a supply agreement with automaker Tesla.
(Reporting by Sourasis Bose in Bengaluru; Editing by Anil D’Silva and Tasim Zahid)
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