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Saturday, 02/20/2021 11:42:10 AM

Saturday, February 20, 2021 11:42:10 AM

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Australian mining company Piedmont Lithium ADR (NASDAQ: PLL) has been on a tear since it announced a deal with Tesla Inc (NASDAQ: TSLA) last September. Piedmont signed a five-year agreement to supply Tesla with one-third of its planned 160,000-tonnes-per-year spodumene concentrate, a type of lithium ore, from its deposits in North Carolina.

Since the announcement, shares of Piedmont have soared more than 430%.

This past November, Piedmont announced an expansion of its drilling operations, adding three new drill rigs in North Carolina.

CEO Keith Phillips said in a press release that the North Carolina investment positions the company to be a part of "North America's clean energy storage and EV revolution."

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