AutomotiveBusiness & Finance

Reuters reveals Piedmont Lithium, in push to supply Tesla, irking North Carolina neighbors; market reacts

Reuters exclusively reported that Piedmont Lithium Inc has not applied for a state mining permit or a necessary zoning variance in Gaston County, North Carolina, despite telling investors since 2018 that it was on the verge of doing so and signing a supply deal with Tesla last autumn. Five of the seven members of the county’s board of commissioners, who control zoning changes, say they may block or delay the project because Piedmont has not told them what levels of dust, noise and vibrations will occur, nor how water and air quality would be affected. The deteriorating relationship between Piedmont and county leaders reflects broader tension in the U.S., as resistance to living near a mine clashes with the potential of EVs to mitigate climate change.

Market Impact

Shares of Piedmont Lithium Inc fell as much as 21% after the Reuters report was published.

Article Tags
Topics of Interest: AutomotiveBusiness & Finance
Type: Reuters Best
Sectors: Business & FinanceCommodities & EnergyEquities
Regions: North America
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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