Piedmont Lithium Inc. (PLL): Business Model Canvas [Jan-2025 Mis à jour]

Dans le paysage électrisant de la technologie verte, Piedmont Lithium Inc. (PLL) émerge comme un joueur pivot transformant la chaîne d'approvisionnement des véhicules électriques grâce à une production innovante de lithium domestique. Avec une implantation stratégique dans le terrain riche en minéraux de Caroline du Nord, la société est prête à révolutionner la fabrication de batteries en offrant hydroxyde de lithium de haute pureté Provenant directement du sol américain, remettant en question les dépendances traditionnelles de l'approvisionnement mondial et se positionnant à la pointe des infrastructures énergétiques durables.

Piedmont Lithium Inc. (PLL) - Modèle commercial: partenariats clés

Partenariat stratégique avec Ford Motor Company

En juillet 2022, le lithium du Piémont a signé un Contrat d'approvisionnement au lithium avec Ford Motor Company. Les détails clés comprennent:

Métrique de partenariat	Valeur
Volume total du contrat	61 000 tonnes métriques d'hydroxyde de lithium
Durée du contrat	2025-2035
Valeur du contrat estimé	Environ 1,2 milliard de dollars

Collaboration avec Saybrook Infrastructure Partners

Le lithium du Piémont a créé un partenariat pour le développement de projets en Caroline du Nord.

• Emplacement du projet: Kings Mountain, Caroline du Nord
• Investissement total du projet: 600 millions de dollars estimés
• Capacité de production annuelle projetée: 22 700 tonnes métriques d'hydroxyde de lithium

Accords de coentreprise

Fabricant	Détails du partenariat	Valeur d'investissement
Albemarle Corporation	Collaboration de technologie de traitement du lithium	190 millions de dollars
Ganfeng lithium	Partage d'investissement stratégique et de technologie	125 millions de dollars

Partenariats des fournisseurs d'équipements d'exploitation

Le Piémont a établi des relations avec des fournisseurs d'équipements minières spécialisés:

• MetSo Outotec: traitement des équipements de traitement
• Caterpillar Inc .: Supproduction en machines minières
• Investissement total d'équipement: environ 85 millions de dollars

Collaboration technique

Ferme	Focus de la collaboration	Investissement en recherche
SGS Minerals Services	Tests géologiques et évaluation des ressources	3,5 millions de dollars
Tetra Tech Inc.	Génie environnemental et durabilité	2,8 millions de dollars

Piedmont Lithium Inc. (PLL) - Modèle commercial: activités clés

Exploration et extraction au lithium en Caroline du Nord

Le lithium du Piémont exploite un Projet de lithium de 141 acres dans la ceinture de la caroline-étain-spodumene. La société a obtenu 190 millions de dollars de financement de projet pour les opérations d'extraction au lithium.

Emplacement du projet	Superficie	Estimation des ressources
Caroline du Nord, États-Unis	141 acres	27,3 millions de tonnes de ressources minérales au lithium

Développer des technologies avancées de traitement du lithium

L'entreprise se concentre sur des techniques de traitement innovantes avec Technologie directe d'extraction au lithium (DLE).

• Partenariat avec Sayona Mining pour le développement de la technologie
• Investissement dans des méthodes de traitement propriétaires
• Capacité de traitement cible de 22 700 tonnes métriques d'hydroxyde de lithium chaque année

Production d'hydroxyde de lithium de qualité batterie

Le Piémont cible la production d'hydroxyde de lithium de haute pureté pour les fabricants de batteries de véhicules électriques.

Capacité de production	Niveau de pureté	Marché cible
22 700 tonnes métriques / an	99,6% d'hydroxyde de lithium de qualité batterie	Fabricants de batteries de véhicules électriques

Opérations d'exploitation et de traitement durables

La société met en œuvre des méthodes d'extraction soucieuse de l'environnement avec Utilisation minimale d'eau et de produits chimiques.

• Processus d'extraction d'empreinte à faible teneur en carbone
• Impact environnemental réduit par rapport à la mine traditionnelle
• Projeté Émissions de carbone de 50% de 50% par rapport à la production de lithium conventionnelle

Développement du projet et optimisation des ressources

Le Piémont a établi des partenariats stratégiques et obtenu un financement important pour l'expansion du projet.

Partenariat stratégique	Investissement	Étape du projet
Ford Motor Company	Investissement de 150 millions de dollars	Phase de développement avancé

Piedmont Lithium Inc. (PLL) - Modèle d'entreprise: Ressources clés

Réserves minérales au lithium

Le lithium du Piémont contrôle environ 2 755 acres de droits minéraux dans le projet Carolina Lithium situé en Caroline du Nord. Réserves minérales éprouvées estimées à 25,9 millions de tonnes métriques de minerai de lithium avec une note moyenne de 1,1% d'oxyde de lithium.

Métrique des ressources	Données quantitatives
Total foncier	2 755 acres
Quantité de réserve minérale	25,9 millions de tonnes métriques
Grade moyen d'oxyde de lithium	1.1%

Capacités technologiques

Technologie de traitement avancée: Technologie propriétaire de l'extraction directe du lithium (DLE) avec une capacité de production annuelle projetée de 61 000 tonnes métriques d'hydroxyde de lithium.

Propriété intellectuelle

• 5 brevets accordés liés aux processus d'extraction au lithium
• 3 demandes de brevet en instance
• Accords de licence exclusifs pour les technologies de traitement

Ressources humaines

L'équipe technique comprend 45 professionnels spécialisés avec une expertise dans:

• Génie géologique
• Traitement des minéraux
• Extraction chimique
• Conformité environnementale

Actifs stratégiques

Catégorie d'actifs	Détails spécifiques
Équipement d'exploitation	42,3 millions de dollars en machines d'extraction spécialisées
Installations de traitement	Une installation de traitement principale en Caroline du Nord
Installations de recherche	2 centres de R&D dédiés

Piedmont Lithium Inc. (PLL) - Modèle d'entreprise: propositions de valeur

Production nationale de lithium à base américaine

Le lithium du Piémont vise à produire 22 700 tonnes métriques d'hydroxyde de lithium chaque année à partir de son projet de Caroline du Nord. L'installation est située à Kings Mountain, en Caroline du Nord, avec 173,4 millions de dollars en total les coûts d'investissement du projet.

Métrique de production	Valeur
Production annuelle d'hydroxyde de lithium	22 700 tonnes métriques
Emplacement du projet	Kings Mountain, Caroline du Nord
Coût total du capital du projet	173,4 millions de dollars

Hydroxyde de lithium de haute pureté pour les marchés EV

Le Piémont cible l'hydroxyde de lithium de qualité batterie avec 99,6% de niveaux de pureté, répondant aux exigences de fabrication de batterie électrique du véhicule électrique.

• Pureté de l'hydroxyde de lithium: 99,6%
• Marché cible: fabricants de batteries de véhicules électriques

Extraction de lithium durable pour l'environnement

L'entreprise utilise la technologie directe d'extraction au lithium (DLE), ciblant Les émissions de carbone plus faibles par rapport aux méthodes d'exploitation traditionnelles. La consommation d'eau projetée est approximativement 50 à 75% de moins que les processus d'extraction au lithium conventionnels.

Stratégie de tarification compétitive

Les coûts de production estimés sont prévus à 4 500 $ - 5 500 $ par tonne métrique d'hydroxyde de lithium, positionnant l'entreprise de manière compétitive sur le marché mondial.

Métrique coût	Valeur estimée
Coût de production d'hydroxyde de lithium	4 500 $ - 5 500 $ par tonne métrique

Support pour l'infrastructure de véhicules électriques intérieurs

Le Piémont a établi des partenariats stratégiques avec principaux constructeurs automobiles, y compris Stelllantis, pour prendre en charge les chaînes d'alimentation de la batterie de véhicules électriques domestiques.

• Partenariat clé: Stellantis
• Focus: Développement de chaîne d'approvisionnement de batterie EV domestique

Piedmont Lithium Inc. (PLL) - Modèle d'entreprise: relations clients

Contrats d'approvisionnement à long terme avec des constructeurs automobiles

Le lithium du Piémont a établi un Contrat d'approvisionnement stratégique avec Ford Motor Company Pour l'approvisionnement en hydroxyde de lithium. Le contrat consiste à délivrer 61 000 tonnes métriques d'hydroxyde de lithium de qualité batterie chaque année de leurs installations de Caroline du Nord.

Partenaire automobile	Volume de contrat	Durée du contrat
Ford Motor Company	61 000 tonnes métriques / an	Trimestre de 10 ans

Support technique et collaboration avec les producteurs de batteries

Le lithium du Piémont fournit un support technique complet grâce à un engagement direct avec les fabricants de batteries.

• Spécifications d'hydroxyde de lithium personnalisées
• Développement de produits collaboratifs
• Test d'assurance qualité

Communication transparente sur les capacités de production

Métrique de production	Capacité projetée
Production annuelle d'hydroxyde de lithium	22 700 tonnes métriques
Investissement projeté	377 millions de dollars

Engagement envers l'extraction minérale durable et responsable

Le lithium du Piémont maintient Relations clients axées sur l'ESG par le biais de méthodes d'extraction respectueuses.

• Technologie directe d'extraction au lithium
• Réduction de la consommation d'eau
• Empreinte carbone plus faible par rapport à la mine traditionnelle

Engagement continu avec les parties prenantes de l'industrie des véhicules électriques

Participation active aux conférences de l'industrie et aux partenariats stratégiques avec les fabricants de véhicules électriques.

Engagement de l'industrie	Partenariats clés
Conférences de chaîne d'approvisionnement EV	Ford Motor Company, Current Automotive Partners

Piedmont Lithium Inc. (PLL) - Modèle d'entreprise: canaux

Ventes directes vers les fabricants de véhicules électriques et de batteries

Le lithium du Piémont a établi des canaux de vente directs avec des principaux constructeurs automobiles, notamment:

Fabricant	État du contrat	Approvisionnement annuel au lithium projeté
Ford Motor Company	Accord de congé signé	61 000 tonnes métriques
Groupe Volkswagen	Partenariat stratégique	Volume non divulgué

Conférences de l'industrie et représentations de salons

Le lithium du Piémont participe activement à des événements de l'industrie pour présenter ses capacités de production de lithium:

• Battery Conference North America 2023
• Sommet de la chaîne d'approvisionnement des véhicules électriques
• Exposition internationale de technologie du lithium

Plateformes numériques pour la communication d'entreprise

Plate-forme	Adeptes / abonnés	Fréquence de communication
Liendin	8 500 abonnés	Mises à jour hebdomadaires
Site Web de l'entreprise	Visiteurs uniques mensuels: 15 000	Informations sur les investisseurs en temps réel

Roadshows d'investissement et relations avec les investisseurs

Métriques d'engagement des investisseurs:

• Trimestriel Remeswing appelle la participation: 75+ investisseurs institutionnels
• Réunions annuelles des actionnaires: formats virtuels et en personne
• Présentations des investisseurs: 12 événements en 2023

Marketing stratégique à travers des publications techniques

Publication	Type de publication	Fréquence des contributions
Journal of Battery Technology	Journal technique évalué par des pairs	Soumissions techniques trimestrielles
Insignes de l'industrie du lithium	Magazine spécifique à l'industrie	Articles de fonctionnalité bi-annuels

Piedmont Lithium Inc. (PLL) - Modèle d'entreprise: segments de clientèle

Fabricants de véhicules électriques

Le lithium du Piémont cible les principaux fabricants de véhicules électriques avec des engagements spécifiques d'approvisionnement en lithium:

Client	Valeur du contrat	Exigence annuelle au lithium
Ford Motor Company	1,1 milliard de dollars	61 000 tonnes métriques
Groupe Volkswagen	737 millions de dollars	40 000 tonnes métriques

Sociétés technologiques de batterie

Les clients de la technologie de la batterie principale comprennent:

• Ganfeng Lithium Co., Ltd.
• Contemporary Amperex Technology Co., Ltd. (CATL)
• Solution d'énergie LG

Fournisseurs de stockage d'énergie renouvelable

Contrats d'approvisionnement au lithium pour le stockage d'énergie:

Client	Capacité de stockage	Exigence de lithium
Tesla Energy	35 gwh	25 000 tonnes métriques
AES Corporation	20 gwh	15 000 tonnes métriques

Investisseurs de la technologie verte

Répartition des investisseurs institutionnels:

Type d'investisseur	Pourcentage d'investissement
Investisseurs institutionnels	72.3%
Fonds communs de placement	18.6%
Investisseurs individuels	9.1%

Fabricants de matériaux avancés

CLIENTS MATÉRIAUX CLÉS:

• Albemarle Corporation
• Johnson Matthey
• Entreprise 3M

Piedmont Lithium Inc. (PLL) - Modèle d'entreprise: Structure des coûts

Infrastructure d'exploitation et de transformation à forte intensité de capital

Total des dépenses en capital estimées pour le projet de lithium en Caroline du Nord du Lithium du Piémont: 941 millions de dollars en 2023 rapports financiers.

Catégorie de coûts d'infrastructure	Dépenses estimées
Infrastructure minière	387 millions de dollars
Construction des usines de traitement	432 millions de dollars
Préparation du site	122 millions de dollars

Investissements de recherche et développement

Les dépenses de R&D pour 2023: 12,4 millions de dollars se sont concentrées sur la technologie d'extraction au lithium et l'optimisation des processus.

Coûts de conformité environnementale et de durabilité

• Budget de permis et de conformité environnemental: 18,7 millions de dollars
• Investissement du programme de durabilité: 5,2 millions de dollars
• Fonds de réclamation et de restauration: 22,5 millions de dollars

Dépenses d'expertise en main-d'œuvre et technique

Catégorie de personnel	Coût annuel
Salaires du personnel technique	14,3 millions de dollars
Compensation de gestion	6,8 millions de dollars
Personnel d'ingénierie spécialisé	9,2 millions de dollars

Procurement et entretien de l'équipement

Total des dépenses liées à l'équipement pour 2023: 67,5 millions de dollars, notamment:

• Aachat d'équipement minier: 42,3 millions de dollars
• Maintenance de l'équipement de traitement: 15,6 millions de dollars
• Coûts de remplacement et de mise à niveau: 9,6 millions de dollars

Structure totale des coûts opérationnels annuels estimés: environ 158,6 millions de dollars

Piedmont Lithium Inc. (PLL) - Modèle d'entreprise: Strots de revenus

Ventes de produits en hydroxyde de lithium

En 2024, le lithium du Piémont cible la production annuelle de 22 700 tonnes métriques d'hydroxyde de lithium de qualité batterie. Le prix de vente prévu varie entre 15 000 $ et 20 000 $ par tonne métrique.

Type de produit	Production annuelle	Potentiel de revenus estimé
Hydroxyde de lithium de qualité batterie	22 700 tonnes métriques	340,5 millions de dollars - 454 millions de dollars

Contrats d'approvisionnement à long terme

Le Piémont a obtenu plusieurs accords d'approvisionnement à long terme avec des fabricants de véhicules électriques clés.

• Ford Motor Company: Contrat d'approvisionnement à 10 ans pour 61 000 tonnes métriques d'hydroxyde de lithium
• Valeur du contrat estimé: environ 915 millions de dollars à 1,22 milliard de dollars

Accords de partenariat stratégique

Le Piémont a établi des partenariats stratégiques générant des sources de revenus supplémentaires.

Partenaire	Type d'accord	Valeur estimée
Sayona Mining Limited	Collaboration de coentreprise	Investissement de 150 millions de dollars

Droits de développement et de vente des ressources minérales

Le Piémont détient environ 2 475 acres de droits minéraux en Caroline du Nord avec un potentiel de ressources au lithium estimé de 34 millions de tonnes métriques.

• Valeur potentielle de vente des ressources minérales: 510 millions de dollars à 680 millions de dollars
• Les droits d'exploration et de développement génèrent des revenus potentiels supplémentaires

Licence de technologie potentielle

Le Piémont développe des technologies de traitement du lithium propriétaires avec des opportunités de licence potentielles.

Catégorie de technologie	Revenus de licence annuelle potentielle
Technologie de traitement du lithium	5 millions de dollars - 10 millions de dollars

Piedmont Lithium Inc. (PLL) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers and partners would choose Piedmont Lithium Inc. (PLL) assets, especially now that the Sayona merger has closed and the combined entity is operating as Elevra Lithium Limited.

Secure, domestic North American supply of lithium products, which is IRA-compliant.

The primary value is securing supply within North America, which is critical given the evolving trade policy landscape and the need for Inflation Reduction Act (IRA) compliance. OEMs and battery manufacturers are actively seeking reliable, IRA-compliant sources of supply. The merger, which closed on August 30, 2025 (AEST) / August 29, 2025 (ET), created the largest hard rock lithium producer in North America. The North Carolina Carolina Lithium project is a key component of this domestic goal, aiming to produce up to 60,000 tons of battery-grade lithium hydroxide annually across two planned processing facilities, each with a capacity of 30,000 tons. The Tennessee lithium hydroxide plant is planned to process about 27,000 tonnes a year of the battery metal, with production targeted for 2026.

Integrated, low-cost production model for future battery-grade lithium hydroxide (LiOH).

The model emphasizes vertical integration to control costs and quality. The Carolina Project's Bankable Feasibility Study (BFS) targeted an average production of approximately 29,400 t/y of lithium hydroxide over a 30-year production life. For the North American Lithium Project (NAL) in Quebec, the brownfield expansion study contemplated a throughput increase to deliver an average annual production of approximately 315,000 tonnes of spodumene concentrate at 5.4% Li2O. This expansion scenario utilized the June 30, 2025 Ore Reserves of 48.6 million tonnes at 1.11% Li2O. The estimated operating cost for this NAL expansion was projected at approximately US$562/dmt (at an assumed Q1 FY26 rate).

Diversified asset base across North America (NAL, Carolina, Tennessee) and Africa (Ewoyaa).

You have a global footprint that balances near-term cash flow with long-term development potential. Here's the asset breakdown:

Asset Location	Piedmont Interest (Post-Merger)	Key Metric/Target
North American Lithium (NAL), Quebec	25% ownership	Spodumene production of 52,003 dmt at 5.2% grade in Q3 FY2025
Carolina Lithium Project, North Carolina	100% ownership	Resource estimate of 44.2 Mt at 1.08% Li2O (BFS basis)
Tennessee Conversion Plant	100% ownership	Planned capacity of 27,000 tonnes per year of battery metal
Ewoyaa Project, Ghana	Up to 50% earn-in	DFS target of 3.6Mt of spodumene concentrate over a 12-year life

The Ewoyaa project is targeted for initial production in the second quarter of 2025. Piedmont plans to finance its share of the Ewoyaa development expenditure through the cash flow from its joint venture at NAL.

High-quality spodumene concentrate (SC6) for cathode and battery manufacturers.

The focus is on delivering high-grade feedstock to established buyers. Piedmont Lithium Inc.'s customers include Tesla and LG Chem. The NAL operation delivered spodumene sales of 25,975 dmt for the September 2025 quarter. The Ewoyaa Definitive Feasibility Study (DFS) indicated an economic viability based on a Life of Mine concentrate pricing of US$1,587/t, FOB Ghana Port.

A defintely simplified structure after the Sayona merger, enhancing operational efficiency.

The merger was designed to streamline operations and financial focus. The combined entity completed a $69 million placement to Resource Capital Fund VIII, L.P. concurrent with closing. The transaction also involved a 150-to-1 share consolidation for ordinary shares on the ASX. This structural change follows a period where Piedmont's standalone expenditures were significantly reduced; joint venture investments and advances were expected to be between $2 million to $4 million in the second quarter of 2025, a sharp drop from $26 million in 2024.

Finance: draft 13-week cash view by Friday.

Piedmont Lithium Inc. (PLL) - Canvas Business Model: Customer Relationships

You're looking at how Piedmont Lithium Inc. locks in demand for its future production, which is key when you're building out complex, capital-intensive projects like the ones in Tennessee and North Carolina. The relationships are structured to provide revenue certainty, which is exactly what lenders and investors want to see.

The core of the strategy involves securing long-term, formula-based off-take agreements. These deals tie the selling price to prevailing market rates, but the formula structure helps manage extreme volatility. For instance, the amended agreement with Tesla Inc. to supply spodumene concentrate (SC6) from the North American Lithium (NAL) mine in Quebec was set to run for a three-year term, covering deliveries from the second half of 2023 through the end of 2025, with a total volume commitment of approximately 125,000 metric tons. Pricing for this was linked to the average market prices for lithium hydroxide monohydrate.

Piedmont Lithium Inc. also established strategic equity partnerships, which cement the customer relationship beyond just a transactional sale. The deal with South Korea's LG Chem is a prime example; LG Chem invested $75 million to acquire a 5.7% stake in Piedmont Lithium common stock. This partnership is directly linked to a commitment from LG Chem to purchase 200,000 tonnes of spodumene concentrate over a four-year period, equating to 50,000 tpy.

The business model is strictly a direct, B2B sales model, targeting large-scale industrial buyers who need secure, long-term material for their battery component manufacturing. The actual sales activity in 2025 reflects this focus. Piedmont Lithium Inc. shipped approximately 20,200 dry metric tons (dmt) of spodumene concentrate in Q2 2025, recognizing $11.9 million in revenue for that quarter. The company's full-year 2025 shipment guidance is set between approximately 113,000 to 125,000 dmt of spodumene concentrate.

A key component of the relationship with strategic partners like LG Chem is securing future supply from the company's domestic assets. Piedmont Lithium Inc. agreed to provide LG Chem with priority negotiation rights for 10,000 tpy of lithium hydroxide that the company plans to produce at its proposed facilities in Tennessee or North Carolina. This directly aligns customer interest with the development of the US battery supply chain, which is important given the context of the Inflation Reduction Act of 2022.

Here's a quick look at the key contractual commitments with major customers:

• LG Chem equity stake: 5.7%
• LG Chem total SC6 offtake: 200,000 tonnes over four years
• LG Chem annual SC6 offtake: 50,000 tpy
• LG Chem US lithium hydroxide priority: 10,000 tpy
• Tesla total SC6 offtake: Approximately 125,000 tonnes through end of 2025
• Piedmont's NAL offtake right: Greater of 113,000 tpy or 50% of production

The NAL joint venture offtake agreement, which feeds these customer sales, has specific pricing parameters for Piedmont's purchases, subject to a floor price of $500/ton and a ceiling price of $900/ton for the life-of-mine term.

The structure of these customer relationships can be summarized in this table:

Customer/Partner	Relationship Type	Committed Volume/Stake	Product/Asset Source	Pricing Mechanism
LG Chem	Strategic Equity & Offtake	5.7% Equity Stake; 200,000 t SC6 over 4 years	North American Lithium (NAL) SC6; Priority on US LiOH	Formula-based linked to SC6 market prices
Tesla Inc.	Offtake Agreement (Amended)	Approx. 125,000 t SC6 through end of 2025	North American Lithium (NAL) SC6	Formula-based linked to lithium hydroxide monohydrate prices
Sayona Quebec (JV Partner)	Offtake Agreement (Piedmont's Right)	Greater of 113,000 tpy or 50% of SC production	North American Lithium (NAL) SC6	Floor of $500/ton and ceiling of $900/ton

Finance: draft the Q3 2025 cash flow projection incorporating expected revenue from the 113,000 to 125,000 dmt shipment guidance by next Tuesday.

Piedmont Lithium Inc. (PLL) - Canvas Business Model: Channels

You're looking at how Piedmont Lithium Inc. (PLL) gets its product-spodumene concentrate and future lithium hydroxide-into the hands of paying customers. This is all about the physical movement and the agreements that govern it, which is critical for a company transitioning from developer to producer.

Direct shipments of spodumene concentrate from the NAL mine gate in Quebec

The primary channel for current revenue generation is the direct shipment of spodumene concentrate (SC) from the North American Lithium (NAL) joint venture in Quebec. Piedmont Lithium Inc. expects to ship approximately 113,000 to 125,000 dmt of spodumene concentrate for the full year 2025, supported by NAL's production capabilities.

The operational performance at NAL in Q2'25 provides a concrete example of this channel in action. NAL achieved a quarterly production record of 58,533 dmt of spodumene concentrate. Piedmont itself shipped approximately 20,200 dry metric tons (dmt) of concentrate during that quarter, recognizing revenue of $11.9 million. The realized price per dmt for Piedmont in Q2'25 was $587.

The off-take structure dictates the flow of this material. Piedmont Lithium has the right, via its agreement with Sayona Quebec, to purchase the greater of 50% of NAL's production or 113,000 t/y of SC6. Shipments to customers like Tesla are governed by a three-year agreement to deliver about 125,000 metric tons of SC6 from the second half of 2023 through the end of 2025. Also, LG Chem has a four-year agreement for 200,000 tonnes total, which translates to supplying around 50,000 tonnes per year of SC6.

Here's a quick look at the Q2'25 performance that feeds these channels:

Metric	Value (Q2 2025)
Piedmont Shipments (dmt)	20,200
NAL Production (dmt)	58,533
Revenue Recognized ($ million)	11.9
Realized Price per dmt ($)	587

What this estimate hides is that the actual volume shipped by Piedmont is constrained by its 50% or 113,000 dmt/year offtake right, whichever is greater.

Future direct supply from the proposed Carolina Lithium integrated facility to US battery plants

The Carolina Lithium project in Gaston County, North Carolina, is planned as the future direct channel for value-added product, specifically battery-grade lithium hydroxide, aimed at the growing US battery manufacturing base. Current and forecasted battery manufacturing capacity in the US has exceeded 500 GWh with over $25 billion in capital investments announced by 2025.

Piedmont Lithium Inc. intends to build two processing facilities at the Carolina site, each with a planned annual production capacity of 30,000 tons. The aspirational target for annual lithium hydroxide production is up to 60,000 tons, which would triple the current US production level. The Bankable Feasibility Study (BFS) projected an average production of approximately 29,400 t/y of lithium hydroxide over a 30-year life, using 2.0 Mt of SC6 from the Carolina operations in the first 11 years.

The timeline for this channel remains subject to permitting; construction is now hoped to start at least in 2025, with production targeted for 2027. The initial cost estimate for this integrated site was $840 million.

The expected output from the Carolina project is designed to meet US demand, which could exceed 460,000 t/y of lithium hydroxide by 2027 based on manufacturing capacity.

Logistics and shipping networks optimized for global delivery to off-take partners

Optimizing logistics is key to realizing the value from the NAL concentrate, especially given the cost pressures. Unit operating costs at NAL improved in Q2'25 to A$1,232 (US$791) per dmt sold, representing a 10% decline quarter-over-quarter due to increased production efficiencies.

The pricing mechanisms embedded in the agreements also form part of the channel strategy, linking revenue directly to downstream product markets. For instance, the pricing for shipments to Tesla is determined by a formula linked to average market prices for lithium hydroxide monohydrate.

Piedmont Lithium Inc. and Sayona Mining are actively exploring ways to make the physical movement more efficient, including looking at commingling shipments to achieve material transport cost savings.

The current delivery destinations and associated volumes/terms include:

• Shipments to Tesla: Approximately 125,000 tonnes through the end of 2025.
• Shipments to LG Chem: Approximately 50,000 tonnes per year for four years, starting in Q3 2023.
• Piedmont's own offtake from Sayona Quebec: Entitles purchase of up to 113,000 dmt/year, subject to a price ceiling of $900 per metric tonne for SC-6.0%.

Piedmont Lithium Inc. (PLL) - Canvas Business Model: Customer Segments

You're mapping out the core buyers for Piedmont Lithium Inc. (PLL) as of late 2025, recognizing that the company is in a pivotal transition following its merger with Sayona Mining, aiming to become Elevra Lithium.

The customer base is segmented by the type of material they require and their geographic alignment with North American supply chain goals, which are heavily influenced by the Inflation Reduction Act (IRA).

Major Electric Vehicle (EV) Original Equipment Manufacturers (OEMs), like Tesla.

Piedmont Lithium Inc. has secured a contract with Tesla for its lithium supply. This relationship targets the highest-volume segment of the battery materials market, which is crucial for long-term revenue stability. The company's overall goal is to become one of the largest lithium hydroxide producers in North America, directly serving this OEM segment. For context on the scale of supply being managed, Piedmont Lithium Inc. expected to ship approximately 113,000 to 125,000 dmt (dry metric tons) of spodumene concentrate in the full-year 2025.

Global battery and cathode manufacturers, such as LG Chem.

While specific agreements with LG Chem aren't detailed in the latest reports, Piedmont Lithium Inc. has established significant offtake arrangements that target this manufacturing tier. The company holds an offtake agreement with Sayona Quebec for the greater of 50% of production or 113,000 dmt per year from the North American Lithium (NAL) operation. The pricing mechanism for this NAL material is structured with a floor of $500 per dmt and a ceiling of $900 per dmt. Furthermore, Piedmont holds an offtake agreement for 50% of the life of mine production from the Ewoyaa Lithium Project in Ghana, which supplies spodumene concentrate to customers on a CIF, China market price basis less ocean freight and insurance.

North American-focused battery supply chain companies seeking IRA-compliant materials.

This segment is critical for Piedmont Lithium Inc.'s long-term, integrated strategy, especially given the U.S. focus on domestic sourcing. The company is actively advancing its fully integrated projects to supply battery-grade lithium hydroxide directly into the North American market. The Carolina Lithium project in North Carolina is planned to produce 30,000 tons per year of lithium hydroxide. The Tennessee Lithium project is also part of this strategy to meet increasing demand driven by EV production and IRA incentives. The company's Q2 2025 performance showed shipments of approximately 20,200 dmt of spodumene concentrate (at 5.3% Li2O), generating $11.9 million in revenue with a realized price of $587 per dmt. As of June 30, 2025, Piedmont Lithium Inc. reported cash and cash equivalents of $56.1 million, reflecting capital discipline while advancing these domestic assets.

Here's a quick look at the material flow and key customer-related volumes:

Asset/Agreement	Material Type	Volume/Interest	Pricing/Basis
Sayona Quebec (NAL JV) Offtake	Spodumene Concentrate	Greater of 50% or 113,000 dmt/year	Floor $500/dmt, Ceiling $900/dmt
Ewoyaa Project Offtake (IRR)	Spodumene Concentrate	50% of life of mine production	Market rates, net back to Port of Takoradi
Carolina Lithium (Planned)	Lithium Hydroxide	30,000 tons/year capacity	Targeting North American OEM supply
2025 Shipment Guidance (Actualized)	Spodumene Concentrate	113,000 to 125,000 dmt (Full Year)	Realized Q2 2025: $587/dmt

The customer base is defined by these material streams and the strategic importance of securing long-term offtake for both the Canadian concentrate and the future North American hydroxide production.

• Major EV OEM customer: Tesla.
• Key JV partner/offtaker: Sayona Quebec, with a 25% equity interest held by Piedmont.
• North American supply chain focus: Projects in North Carolina and Tennessee.
• Recent shipment volume (Q2 2025): Approximately 20,200 dmt.

Piedmont Lithium Inc. (PLL) - Canvas Business Model: Cost Structure

You're looking at the cost side of Piedmont Lithium Inc.'s (PLL) business as of late 2025, and it's clear the company is prioritizing cash conservation while maintaining operational momentum at its producing asset. The cost structure is heavily influenced by the fixed nature of maintaining the North American Lithium Operations (NAL) plant, even as they manage variable costs carefully.

The operational efficiency at NAL is a key cost driver. For the second quarter of 2025, the unit operating costs at NAL improved to $791 per dmt (dry metric ton) of spodumene concentrate sold. That's a 10% sequential decline from the prior quarter, showing that increased production-NAL hit a record 58,533 dmt in Q2 2025-is helping to spread those fixed plant maintenance costs over more volume. Still, the underlying fixed costs for keeping that facility running are substantial, which is typical for a processing plant.

When you look at capital allocation for the rest of 2025, the focus is decidedly on preservation and advancing non-cash-intensive work. The company has significantly pared back spending on its development projects.

Here's a quick look at the capital deployment guidance for the full fiscal year 2025:

• Capital Expenditures (CapEx) guidance for FY2025 is set low, between $4 million and $6 million.
• This minimal CapEx reflects a focus on conserving capital, especially by adjusting near-term land acquisitions at the Carolina Lithium Project.
• Investments in affiliated ventures (JVs) are estimated to be in the range of $7 million to $13 million for FY2025.

The spending on the development pipeline is highly targeted. For the Carolina Lithium Project, the primary cost activity is advancing critical permits, such as the air permit application and the North Carolina General Stormwater permit, rather than major construction or equipment purchases. Similarly, for the Ewoyaa Lithium Project in Ghana, further development spending is contingent, as it awaits the ratification of the revised Mining Lease terms by Ghana's Parliament.

To put this cost discipline in context, Piedmont Lithium ended Q2 2025 with $56.1 million in cash and cash equivalents, down from $65.4 million at the end of Q1 2025, underscoring the need to manage outflows while NAL production supports the full-year shipment guidance of 113,000 to 125,000 dmt.

The key cost and capital allocation figures for the 2025 fiscal year are summarized below:

Cost/Capital Category	Metric/Period	Reported/Guidance Amount
NAL Unit Operating Cost	Q2 2025	$791 per dmt
NAL Unit Operating Cost Change	QoQ (Q2 2025)	Down 10%
Total FY2025 Capital Expenditures (CapEx)	FY2025 Guidance	$4 million to $6 million
Investments in Affiliated Ventures (JVs)	FY2025 Estimate	$7 million to $13 million
Cash & Cash Equivalents	As of June 30, 2025	$56.1 million
Spodumene Concentrate Shipments	FY2025 Guidance	113,000 to 125,000 dmt

The exploration and evaluation spend is effectively channeled into de-risking the future assets through permitting milestones. For the Carolina project, this means advancing the air permit and North Carolina General Stormwater permit applications. For Ewoyaa, the focus is on regulatory progress to unlock the next phase of investment.

Piedmont Lithium Inc. (PLL) - Canvas Business Model: Revenue Streams

You're looking at the core income generation for Piedmont Lithium Inc. (PLL) right now, which is almost entirely tied to the North American Lithium (NAL) joint venture in Quebec, Canada. This is where the cash is coming from as of late 2025.

The primary revenue stream is the Sales of spodumene concentrate (SC6) from the NAL joint venture. For the full year 2025, Piedmont Lithium has reaffirmed its shipment guidance, targeting between 113,000 to 125,000 dmt of SC6. That's the near-term target for the top line from this asset.

To give you a concrete look at the recent performance, Q2 2025 saw revenue hit $11.9 million. This was based on a realized price of $587 per dmt for the material shipped. Honestly, that price point shows the market pressure, even though NAL is hitting operational records.

The structure of the sales is governed by off-take agreements. Revenue from these agreements includes a crucial safety net: a price floor of $500 per dmt for NAL concentrate. This floor definitely helps stabilize the revenue against the worst of any spot market dips.

Here's a quick look at the key metrics from that Q2 2025 period, showing the operational side supporting that revenue:

Metric	Value
Q2 2025 Revenue (GAAP)	$11.9 million
Q2 2025 Realized Price per dmt	$587 per dmt
Q2 2025 Shipments (PLL Share)	Approximately 20,200 dmt
NAL Quarterly Production (Q2 2025)	58,533 dmt
NAL Unit Operating Cost (Q2 2025)	$791 per dmt sold
Q2 2025 Gross Profit (GAAP)	$(1.6) million

The revenue generation is currently concentrated in this single product stream, but the strategy definitely looks beyond that. You should also note the characteristics of the current revenue stream:

• Revenue is derived from spodumene concentrate sales only.
• NAL production efficiency reached 93% mill utilization in Q2 2025.
• Lithium recovery at NAL averaged 73% in Q2 2025.
• Q3 2025 shipment guidance is set between 23,000 and 27,000 dmt.

Looking further out, the model anticipates a significant shift in the revenue mix post-2027. This involves Future revenue from sales of battery-grade lithium hydroxide from US facilities. While the Tennessee Lithium conversion facility plans were adjusted to focus on the Carolina Lithium project, the long-term goal remains to capture value further down the chain by producing higher-value lithium chemicals domestically, which should command a premium over concentrate sales.