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9/28, 5:10 AM (Source: TeleTrader)
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Tesla, Piedmont Lithium sign five-year ore supply deal

Piedmont Lithium Limited announced on Monday it has agreed with Tesla, Inc. on a five-year deal to supply high purity lithium ore to the electric car maker.

Approximately one-third of the Australian mining company's annual spodumene concentrate output that is planned to reach 160,000 tonnes will be supplied to Tesla, while an additional quantity may be delivered to the US company "at Tesla's option," the statement said.

"We will now accelerate our mine/concentrator development to support Tesla's plans, work to further expand our mineral resources, and potentially increase our planned annual spodumene concentrate production capacity," Piedmont Lithium CEO Keith Phillips stated.

Breaking the News / GA