After having a stock boost in June, Piedmont’s July is sinking amid some unpleasing news. On July 2, the price was $77.89. However, after two weeks, it is falling to $67.71, resulting in a 13% loss. Gaston county is home to one of the largest sources of lithium in the world. Piedmont recently has obtained hundreds of acres west of Gastonia for mining lithium there. Officials said they found more lithium in the ground, and they want to expand their project to include those areas. Nevertheless, many residents said the harm the project will do to the community far outweighs the benefits.
Resident Will Baldwin said that they say they are bringing 500 jobs, but at what cost? They are threatening farms and homes. According to Baldwin, the land near the planned operation has been in his family since the 1700s. He believes the mining is going to do unfixable damage to the community between Dallas and Cherryville.
Catawba Riverkeeper Brandon Jones said he plans to attend the board of commissioners meeting next week when Piedmont Lithium plans to make its pitch to start the permitting process on a $500 million investment. He worries that they will fill in wetlands and streams that could drain area waterways if there is a drought. Jones said he wants the county to monitor the operations.
Finance and Entertainment Reporter
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