Piedmont Lithium Gets Mining Permit For North Carolina Project; Stock UP In Pre-Market

(RTTNews) - Shares of mining company Piedmont Lithium Inc. (PLL) were rising more than 19 percent in pre-market on Monday to $15.16. Today, the company said it received mining permit for its North Carolina project after waiting for more than two and a half years. Piedmont had submitted the application in August 2021.

"We plan to develop Carolina Lithium as one of the lowest-cost, most sustainable lithium hydroxide operations in the world, and as a critical part of the American electric vehicle supply chain. The Project is expected to contribute billions of dollars of economic output and several hundred jobs to Gaston County and North Carolina's growing electrification economy," said Piedmont Lithium President and CEO Keith Phillips.

Piedmont Lithium shares had closed at $12.68, down 4.95 percent on Friday. The stock has been trading in the range of $11.27 - $65.72 in the last 52 weeks.