The North American Lithium project in Quebec has finally been restarted, thanks to a joint effort by Sayona Mining (ASX: SYA) and Piedmont Lithium (NASDAQ: PLL). The project represents a major source of new spodumene production within North America.
The project is one of three projects operated by Sayona Quebec, which itself is a joint venture between Sayona and Piedmont, with the latter owning a 25% stake in the firm.
The project is currently expected to produce 226,000 metric tons per year of spodumene, with commercial shipments slated to begin in the third quarter of this year. The operation is slated to produce 120,000 metric tons by the end of the year, with the company targeting four shipments to occur this year.
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“Since announcing our restart intentions in 2021, our project team has maintained a forward-looking focus to improve lithium capture, achieve more consistent runtimes, and streamline operating costs from the past-producing operation. Improvements were made as planned in our timeline and budget, and we are eager to see the impact the upgrades bring to both product quality and operational efficiency as we prepare for our first commercial shipments of spodumene concentrate expected in July of this year,” commented Managing Director Brett Lynch.
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Production is slated to use mineral resources from Sayona’s Abitibi Hub projects in Quebec, with a definitive feasibility study for North American Lithium and the Authier Lithium project slated to be delivered at some point in the future. A prefeasibility study meanwhile is said to be underway for downstream production at NAL related to the completion of a carbonate plant at the project, with such a plant currently being partially completed on site as a remnant from prior owners. That study is slated to be released in the oncoming quarter.
Sayona Mining last traded at $0.20 on the ASX.
Information for this briefing was found via Sedar and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
