Piedmont Lithium (NASDAQLL) has officially obtained a North Carolina state mining permit after posting a $1M reclamation bond to develop an open-pit mine that would become one of the largest U.S. sources of lithium, Reuters reported Tuesday.
The North Carolina Department of Environmental Quality reportedly sent the permit to Piedmont (PLL) after a nearly three-year review process for the controversial mine; the permit was provisionally awarded last month, pending the bond payment.
Piedmont (PLL) still needs to obtain a zoning variance from officials in Gaston County near Charlotte for the $1B-plus project; it still must obtain financing for the mine and processing facilities, as well as state air quality and wastewater permits.
The company is expected to provide a financing update when it releases quarterly results on Thursday.
PLL Price at posting:
20.5¢ Sentiment: Buy Disclosure: Held
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LL) has officially obtained a North Carolina state mining permit after posting a $1M reclamation bond to develop an open-pit mine that would become one of the largest U.S. sources of lithium, Reuters reported Tuesday.
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