Australia’s Piedmont to Supply Lithium to Tesla, Shares Surge

Australia’s Piedmont to Supply Lithium to Tesla, Shares Surge
Tesla Inc CEO Elon Musk participates in a press conference at the Kennedy Space Center in Cape Canaveral, Fla., on May 27, 2020. Saul Martinez/Getty Images
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An Australian mining company has signed a five-year deal to supply lithium to electric carmaker Tesla Motors.

Shares in the ASX-listed Piedmont Lithium surged 83 percent following the announcement (pdf) on Sept. 28.