Author: Vitaliy Dadalyan

Tesla Contract Gives Boost To Mining Startup Looking To Produce Lithium For Batteries

The most ambitious project in the U.S. to free it from almost total dependence on lithium imports to make batteries has received a huge boost with a long-term deal to supply an intermediate product to Tesla, Inc. (NASDAQ: TSLA).Lithium is generally considered the most efficient battery metal, and its production will need to rise significantly in coming years for any sort of energy revolution to take place, whether it's in a vehicle or to construct storage systems to hold electricity in reserve for when intermittent renewables aren't supplying power. Think of wind turbines on a windless day or solar panels when the sun isn't shining. Tesla is building its own batteries. It recently held its battery day event to discuss its progress. Piedmont Lithium Limited (NASDAQ: PLL) announced this week that it had reached an agreement to sell a lithium intermediate product called spodumene concentrate to Tesla for five years on a fixed-price...