Piedmont Lithium soars after confirming Tesla deal

The initial five-year agreement will see Piedmont supplying about a third of its planned 160,000-tonnes-per-year spodumene concentrate produce from its deposits in North Carolina. Both companies can then extend the deal for another five years.

Piedmont shares climbed as much as 90% to A$0.285 intra-day on the ASX, a 13-year high for the company. They closed at 0.28, leaving the company with a market cap of A$124.86 million

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