Join our daily newsletter At The Bell to receive exclusive market insights
- Sayona Mining’s (SYA) share price has spiked amid accelerating changes to the electric vehicle sector in North America
- Provincial and federal governments in Canada have announced a phase-out of new gasoline engine vehicles within the next 20 years
- Sayona’s lithium projects in Quebec could play a pivotal role in the province’s plan for its clean energy sector
- Back in Australia, Sayona recently resumed full ownership of its Western Australian gold and lithium portfolio, after terminating its earn-in agreement with ASX-listed Altura Mining (AJM)
- Sayona Mining closed 42.86 per cent in the green for 1 cent per share
Sayona Mining’s (SYA) share price has spiked amid accelerating changes to the electric vehicle sector in North America.
In the Canadian province of Quebec, the provincial government has announced a long-term phase-out of new gasoline engine vehicles. The sale of such vehicles will be banned in Quebec from 2035, in order to reduce greenhouse gas emissions.
In addition, Canada’s federal government has flagged plans to phase-out the sale of new gasoline vehicles by 2040. This eco-friendly initiative has even extended into the United States’ most populated state, California, which will ban gasoline vehicle sales from 2035.
The gap left by traditional vehicles will leave room for the electric vehicle and clean energy sectors to flourish. Sayona Mining’s lithium projects in Quebec could play a pivotal role in the province’s plans for its clean energy industry.
The company’s Managing Director, Brett Lunch, said that the shift toward electric vehicles in Quebec is no longer an aspiration, but a reality.
“Taken together, these moves by Quebec and other governments in Canada and the United States will ensure that North America is not left behind in the clean energy race of the 21st century,” he said.
“Importantly, Quebec has the necessary battery metals such as lithium to ensure the development of a domestic battery sector, based on its competitive advantages of being the most economical, sustainable, and strategic supplier of spodumene,” he added.
Brett went on to say that with continued high Australian dollar gold prices, Sayona is looking forward to unlocking value from its Western Australian tenements, which have significant potential.
The company is also making progress back at home, where it is advancing EIS studies at its flagship Authier Lithium Project. Sayona’s ongoing bid for North American Lithium (NAL) is still progressing, despite recent delays.
Finally, Sayona has resumed full ownership of its Western Australian gold and lithium portfolio, after the termination of its Earn-In Agreement with Altura Mining (AJM).
Sayona Mining closed 42.86 per cent higher on Tuesday, to trade for $0.01 per share.
