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New Delhi: Piedmont Lithium Inc said on Monday it has agreed with Tesla Inc to delay first delivery of lithium spodumene concentrate to the automaker and that it does not have a definitive date for when deliveries will begin.
Piedmont, which is working to develop a North Carolina lithium mine and processing facilities, had been set in the initial contract to begin supplying Tesla between July 2022 and July 2023. Tesla did not immediately respond to a request for comment.
In September 2020,the supplier signed a five-year deal with Tesla Inc to supply high-purity lithium ore mineral to the U.S. electric carmaker, prompting an 83% surge in the Australian lithium miner’s shares.
The initial five-year agreement implied that Piedmont will supply about a third of its planned 160,000-tonnes-per-year spodumene concentrate production from its deposits in North Carolina. Both companies had an option to extend the deal for another five years.
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Lithium miners are set to benefit from climbing prices for the raw material used in electric-vehicle batteries as demand recovers, according to filings made by Australian firms earlier this year.
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