PLL - North Carolina regulator wants more info on Piedmont Lithium mine permit review

2023-05-31 12:20:17 ET

Piedmont Lithium ( NASDAQ: PLL ) -4% in Wednesday's trading after North Carolina regulators reportedly asked for additional information needed to approve its mine permit application, the third such request since the review process began in 2021.

State officials reportedly gave the company 180 days to provide additional details on various areas, including plans for arsenic testing and how the mine's waste rock storage pit would be lined.

Piedmont ( PLL ) first applied for the permit in August 2021, then North Carolina asked for additional information in October 2021 and in January 2022, and the state has twice extended the January deadline at the company's request.

The proposed mine would become one of North America's largest sources of lithium for electric vehicle batteries, but it has faced extensive opposition over worries about water, noise pollution and other factors.

More on Piedmont Lithium:

• Financial and valuation comparison to sector peers
• Analysis: Piedmont Lithium: Strong Potential, But A Buy Not Just Yet
• Stock price return: Up 26% YTD, down 16.5% in the past 12 months

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