Piedmont Lithium Slashes 2024 Capex Amid Lower Prices

February 27, 2024--Researched by Industrial Info Resources (Sugar Land, Texas)--A downturn in lithium prices adversely impacted Piedmont Lithium's (NASDAQ:PLL) (Bessemer City, North Carolina) financial results for 2023, and the company expects between $10 million and $14 million in capital investment in 2024--down from $57 million in 2023. Still, Piedmont is maintaining its 25% joint-venture and offtake position with Sayona Mining Limited (Milton, Queensland) for the North American Lithium (NAL) operation in Quebec, and continues to develop lithium projects in Tennessee and North Carolina.