Piedmont Lithium Inc. has amended its agreement with Tesla, Inc. to supply the U.S. automaker with spodumene concentrate from North American Lithium.
This agreement is binding for a three-year term and includes an option to renew for another three years, with Piedmont agreeing to deliver approximately 125,000 metric tons of SC6 to Tesla beginning in H2 2023 through the end of 2025.
The pricing received by Piedmont will be determined by market prices at the time of each shipment.
Piedmont plans to deliver SC6 to Tesla from NAL under Piedmont’s offtake agreement with Sayona (ASX:SYA) Quebec.
Following the announcement, shares of Piedmont Lithium (ASX:PLL) were unchanged at $0.66.