Piedmont Lithium has announced that the board of directors of Sayona Quebec Inc. (SYQ), which is owned 75% by Sayona Mining (Sayona) and 25% by Piedmont, authorised the restart of spodumene concentrate production at its North American Lithium (NAL) project located near Val-d’Or, Quebec.
The NAL restart will feature significant operational upgrades totalling approximately US$80 million aimed at improving product quality and plant utilisation. Long-lead equipment was ordered and detailed design engineering commenced in late 2021 based on our jointly planned timeline.
Operations at NAL are expected to commence in 1H23. The NAL restart project will be entirely funded from pro-rata cash contributions by Sayona and Piedmont, with each party having completed significant capital raises in 1H22.
Keith Phillips, President and Chief Executive Officer of Piedmont Lithium, comments:
“We are excited to take this essential next step toward supplying much-needed North American lithium resources.
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