Tesla supplier Piedmont Lithium has successfully acquired a North Carolina state mining permit, marking a significant step in the development of an open-pit mine set to become one of the largest sources of the crucial battery metal in the United States.
The permit, obtained after posting a $1-million reclamation bond, follows a rigorous three-year review process by the North Carolina Department of Environmental Quality.
Erin Sander, spokesperson for Piedmont, expressed satisfaction with the final permit, highlighting the detailed instructions outlined within it, covering aspects such as blasting and waste rock storage.
Notably, the permit is transferable to a third party, ensuring flexibility for Piedmont in the event of a sale.
However, the project has faced significant opposition over the years, reflecting broader tensions between the desire to combat climate change through electric vehicles (EVs) and concerns about living near a mining site.
While Piedmont has cleared a major regulatory hurdle, it still needs to secure a zoning variance from Gaston County officials for the project, valued at over $1 billion. State regulators have emphasized that the permit does not override local zoning regulations.
As Piedmont continues its progress, it also faces the task of obtaining financing for the North Carolina mine and processing facilities, as well as securing state air quality and wastewater permits.
The company is expected to provide updates on its financing efforts during its upcoming quarterly results release.
