{"id":2764,"date":"2022-06-30T21:36:01","date_gmt":"2022-06-30T21:36:01","guid":{"rendered":"https:\/\/northamericanmining.com\/?p=2764"},"modified":"2022-06-30T21:37:05","modified_gmt":"2022-06-30T21:37:05","slug":"north-american-lithium-restart-gets-green-light","status":"publish","type":"post","link":"https:\/\/northamericanmining.com\/index.php\/2022\/06\/30\/north-american-lithium-restart-gets-green-light\/","title":{"rendered":"North American Lithium restart gets green light"},"content":{"rendered":"\n

The board of directors of Sayona Quebec Inc., which is owned by Australian-based Sayona Mining (75%) and U.S.-based Piedmont Lithium (25%), has authorized the restart of spodumene concentrate production at its North American Lithium project near Val-d\u2019Or, Quebec, Canada. <\/p>\n\n\n\n\n\n\n\n

The restart project will feature significant operational upgrades totaling US$80 million aimed at improving product quality and plant utilization. It will be entirely funded from pro-rata cash contributions by Sayona and Piedmont, with each party having completed significant capital raises in the first half of 2022.<\/p>\n\n\n\n

Operations at North American Lithium are expected to commence in the first half of 2023. <\/p>\n\n\n

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Photo: Business Wire<\/em><\/figcaption><\/figure>\n\n\n

\u201cWe are excited to take this essential next step toward supplying much-needed North American lithium resources,\u201d said Keith Phillips, president and chief executive officer of Piedmont Lithium. <\/p>\n\n\n\n

\u201cAuthorizing the restart of the NAL project is consistent with our plan to become a revenue generating company in 2023 and contributes to our strategic goal of becoming a leading North American lithium producer through our integrated portfolio of lithium projects.\u201d<\/p>\n\n\n\n

Under an offtake agreement, Piedmont is entitled to purchase the greater of 113,000 metric tons\/year of spodumene concentrate or 50% of production from the project. The agreement also covers concentrate produced from ore mined at Sayona Quebec\u2019s Authier lithium project. Purchases are subject to market pricing with a price floor of $500 per metric ton and a price ceiling of $900 per metric ton.<\/p>\n\n\n\n

Sayona Quebec completed the acquisition of North American Lithium in August 2021.<\/p>\n\n\n\n

Source: Piedmont Lithium<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The board of directors of Sayona Quebec Inc., which is owned by Australian-based Sayona Mining (75%) and U.S.-based Piedmont Lithium (25%), has authorized the restart of spodumene concentrate production at its North American Lithium project near Val-d\u2019Or, Quebec, Canada. <\/p>\n","protected":false},"author":1,"featured_media":2765,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_themeisle_gutenberg_block_has_review":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[495],"tags":[694,1253,1252],"coauthors":[],"class_list":["post-2764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-latest-news","tag-lithium","tag-piedmont-lithium","tag-sayona-quebec"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t