Piedmont Lithium boosts management team as lithium prices soar
Lithium majors Ganfeng Lithium and Sociedad Quimica y Minera de Chile are expecting more price hikes for the metal in the coming months.
With lithium prices three times what they were a year ago, and predicted by major producers to go even higher, Piedmont Lithium (ASX: PLL) has made more key appointments to the management team at its United States headquarters.
Joining the team are Nick Fouche to fill the role of senior vice president of capital projects and Erin Sanders, who has been appointed vice president of corporate communications.
Mr Fouche has worked previously in senior roles at Rio Tinto (ASX: RIO), South32 (ASX: S32), and with South African copper producer Palabora Mining and Brazil-focused Ero Copper (TSX: ERO).
Ms Sanders has spent 30 years at global and regional communications agencies helping, as the company notes, “to build the brand identities of Fortune 500 companies and guiding some of the world’s top organisations in achieving their business objectives”.
Lithium supply crunch looming
All this comes a time when lithium shortages are threatening to derail the electric vehicle revolution — and Piedmont Lithium has advanced projects in North Carolina and Tennessee along with joint ventures in Canada and Ghana.
This fits with Piedmont’s strategy to seek spodumene supply from diverse sources to process to lithium hydroxide to meet the expected battery demand as the electric vehicle revolution proceeds.
A week ago, it was reported that lithium carbonate prices in China had hit 550,500 yuan (US$71,315) a tonne, more than triple what it was this time last year.
The supply situation was made worse when Sichuan province, which produces 20% of China’s lithium, was hit with a two-week electricity shortage — and there are warnings that China will suffer more brownouts this coming winter.
Both Ganfeng Lithium and Sociedad Quimica y Minera de Chile are warning that more lithium price hikes are to be expected in the coming months.
‘Important period of growth’
In addition to the appointments of Mr Fouche and Ms Sanders, Piedmont has hired nine other key players over recent months, including a senior electrical engineer, two mining engineers and an accounting manager.
Piedmont president and chief executive officer Keith Phillips said the addition of Mr Fouche and Ms Sanders mark an important period of growth for the company.
“Nick has a proven track record of successfully delivering large, multi-disciplinary projects,” he said.
“Erin’s broad communications background will play a key role in shaping our brand, culture and perception among our internal and external stakeholders.”
Working toward US energy independence
Apart from its mining and processing projects in the US, Piedmont is working with Sayona Mining (ASX: SYA) at the Quebec-based North American lithium project and developing a lithium hub in the Canadian province.
In Ghana, the company has invested US$103 million in AIM-listed Atlantic Lithium at Ewoyaa, which is planned to be that country’s first lithium mine.
“These geographically diverse operations will enable us to play a pivotal role in supporting America’s move towards energy independence and the electrification of transportation and energy storage,” Piedmont stated.