Sayona Québec Inc. formally approves the restart of the North American Lithium (NAL) operation, with a budget of approx. C$98 million
Emerging lithium producer Sayona Mining Limited (ASX:SYA; OTCQB:SYAXF) has cemented plans to commence North American spodumene (lithium) production in 2023 following the formal agreement of the North American Lithium (NAL) restart program.
The Sayona Quebec Inc. (SYQ) board has formally authorised the restart of spodumene concentrate production at the NAL operation in Québec, requiring significant plant and infrastructure upgrades, aimed at improving product quality, recovery, and plant availability. SYQ is owned 75% by Sayona Mining and 25% by Piedmont.
The proposed upgrade and restart budget is approximately C$98 million (approx A$110 million). Sayona has made significant steps to expedite the production restart, having recruited key personnel, secured critical long lead equipment items, progressed detailed engineering design work and obtained nearly all required regulatory approvals. The NAL concentrator commissioning is on track, with first production
due in Q1 2023.
Sayona’s Managing Director, Brett Lynch commented: “We are delighted to put the seal on our plan to launch North America’s first local spodumeme concentrate production, amid growing demand from both Canada and the United States for local and sustainable sources of this key battery metal.
“Our team in Québec has hit the ground running since our official takeover of the operation in August 2021. Progress to date has been excellent, including the recruitment of experienced operating personnel and the move to secure major items of equipment early, before recent cost hikes.”
Source: Company Press Release