This replaces an before product that described incorrect 12 months-to-date share gains for Piedmont Lithium and Livent. It has been corrected.
Shares of Piedmont Lithium Inc.
PLL,
charged up 11.5% in midday investing Wednesday, soon after the lithium producer announced a $141.7 million grant from the U.S. Department of Electricity. The corporation stated the grant is element of the Biden administration’s infrastructure legislation aimed at expanding domestic production of batteries for electric motor vehicles (EVs) and for elements at the moment imported. Piedmont, which has but to report any income, said the grant will aid the construction of its $600 million Tennessee Lithium job, which is anticipated to get started in 2023, and to deliver 30,000 metric tons of lithium hydroxide for every calendar year. The job is expected to generate about 120 new jobs. “This funding will permit us to speed up in depth engineering and place orders for long-direct things,” stated Piedmont Main Working Officer Patrick Brindle. The stock has rallied 63.8% above the past 3 months, while fellow lithium producer Livent Corp.’s shares
LTHM,
have blasted operate up% increased and the S&P 500
SPX,
has dropped 6.1%.
Related Post
This replaces an before product that described incorrect 12 months-to-date share gains for Piedmont Lithium and Livent. It has been corrected.
Shares of Piedmont Lithium Inc.
PLL,
charged up 11.5% in midday investing Wednesday, soon after the lithium producer announced a $141.7 million grant from the U.S. Department of Electricity. The corporation stated the grant is element of the Biden administration’s infrastructure legislation aimed at expanding domestic production of batteries for electric motor vehicles (EVs) and for elements at the moment imported. Piedmont, which has but to report any income, said the grant will aid the construction of its $600 million Tennessee Lithium job, which is anticipated to get started in 2023, and to deliver 30,000 metric tons of lithium hydroxide for every calendar year. The job is expected to generate about 120 new jobs. “This funding will permit us to speed up in depth engineering and place orders for long-direct things,” stated Piedmont Main Working Officer Patrick Brindle. The stock has rallied 63.8% above the past 3 months, while fellow lithium producer Livent Corp.’s shares
LTHM,
have blasted operate up% increased and the S&P 500
SPX,
has dropped 6.1%.
