Piedmont Lithium amends its offtake agreement with Tesla PiedmontLithium mining Tesla
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According to a company press release, Piedmont and Tesla have mutually agreed to amend their previous offtake agreement with the terms of this new agreement, which are binding for a three-year term and include an option to renew for another three years. According to the terms, the SC6 pricing will be determined by a formula-based mechanism linked to average market prices for lithium hydroxide monohydrate throughout the term of the agreement.
"We are pleased to be able to partner with Tesla to supply lithium resources produced in North America," stated President and CEO Keith Phillips."The electric vehicle and critical battery materials landscape has changed significantly since 2020 and this agreement reflects the importance of – and growing demand for – a North American lithium supply chain.
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