- Sayona Mining (SYA) launches its pre-feasibility study (PFS) for production of lithium carbonate at the North American Lithium (NAL) operation
- The PFS was launched by Sayona Québec and project partner Piedmont Lithium (PLL), the PFS will fast track the company’s plans to move downstream in Québec
- The potential move downstream has significant potential value-adding boost in enhancing the long-term value and profitability of the NAL operation
- Engineering firm Hatch will undertake the lithium carbonate PFS, targeting completion by March 2023, in line with the recommencement of production at NAL
- Shares in Sayona are up 11.1 per cent to trade at 25 cents, while Piedmont shares are up 6.06 per cent, trading at 87.5 cents as of 2:08 pm AEDT
Emerging lithium producer Sayona Mining (SYA) has launched a pre-feasibility study (PFS) for the production of lithium carbonate at the North American Lithium (NAL) operation.
The study was launched by Sayona’s 75 per cent-owned subsidiary, Sayona Québec, to fast track and evaluate options for downstream processing in Québec, Canada.
Piedmont Lithium owns the other 25 per cent interest in Sayona Québec.
The PFS will examine the option of producing lithium carbonate from lithium spodumene produced at NAL where production of its concentrate is scheduled to commence from Q1 2023.
Further, it will form part of the companies’ commitments to Investissment Québec and the Québec government in NAL’s acquisition, making a significant contribution to the province’s electrification drive.
According to the company, the potential move downstream is a significant potential value-adding boost in enhancing the long-term value and profitabiltiy of the NAL operation.
Managing Director Brett Lynch added that the study will provide valuable intelligence on future planned downstream processing in Québec.
“Moving downstream has always been the plan for Sayona in Québec to enable a significant increase in profitability, whether through lithium carbonate or hydroxide production,” Mr Lynch said.
“We look forward to examining the results of the PFS, as we work towards becoming a leading integrated producer and the largest in North America, amid accelerating demand from the battery and electric vehicle sector.”
Major engineering firm Hatch will undertake the lithium carbonate PFS, targeting completion by March 2023, in line with the recommencement of spodumene concentrate production at NAL.
Shares in Sayona were up 11.1 per cent to trade at 25 cents, while shares in Piedmont were up 6.06 per cent, trading at 87.5 cents as of 2:08 pm AEDT.