- Piedmont Lithium (PLL) is one step close to achieving its vision of becoming the leading lithium hydroxide producer in North America following a completed mineral resource estimate update by its partner.
- Piedmont partner Sayona Mining (SYA) doubled its lithium resource base for its North American Lithium (NAL) and Authier Lithium Project in Quebec to 119.1 million tonnes at 1.05 per cent lithium oxide.
- Piedmont owns a 25 per cent interest in the projects via an equity stake in Sayona Quebec, as well as an equity interest of approximately 17 per cent in Sayona Mining.
- Shares in PLL are trading 10.7 per cent higher at 83 cents
Piedmont Lithium (PLL) is one step close to achieving its vision of becoming the leading lithium hydroxide producer in North America following a completed mineral resource estimate update by its partner.
Piedmont partner Sayona Mining (SYA) doubled its Québec lithium resource base amid the surging demand of lithium supply in North America.
Following independent studies, the JORC compliant lithium resource base for its North American Lithium (NAL) and Authier Lithium Project has approximately doubled to 119.1 million tonnes at 1.05 per cent lithium oxide.
Piedmont owns a 25 per cent interest in the projects via an equity stake in Sayona Quebec, as well as an equity interest of approximately 17 per cent in Sayona Mining.
Piedmont Chief Operating Officer Patrick Brindle said Sayona’s doubling of the mineral resources at North American Lithium and Authier supports Sayona Quebec’s claim as the largest spodumene resource in Canada.
“This is the next step in helping Piedmont achieve its vision of becoming the leading lithium hydroxide producer in North America,” said Mr Brindle.
Mr Brindle added that Piedmont is happy and excited for its partners.
“Sayona Quebec is one of the largest and best-located spodumene businesses in Canada and as a past producer with the bulk of plant and equipment in place, we believe is also the most advanced at this time,” he said.
“We look forward to Sayona’s upcoming release of new technical studies for both Authier and North American Lithium as we advance our plans to jointly restart spodumene concentrate production in North American Lithium in 2023 as the world’s demand for electric vehicles and lithium hydroxide continues to accelerate.”
Shares in PLL were trading 10.7 per cent higher at 83 cents at 11:30 am AEDT.