PLL - Piedmont Lithium Sayona Mining restart North American Lithium project

2023-03-30 09:21:22 ET

Piedmont Lithium ( NASDAQ: PLL ) and Sayona Mining ( OTCQB:SYAXF ) said Thursday they have restarted production of commercial spodumene concentrate at the jointly-owned North American Lithium project in Quebec.

The companies said the $80 million restart of NAL was completed on time and on budget, and is the only major source of new spodumene production expected in North America in the next two years.

Sayona ( OTCQB:SYAXF ) is targeting annual production of 226K metric tons/year with first commercial shipments expected in Q3.

Piedmont Lithium ( PLL ) and other lithium stocks surged earlier this week after Albemarle submitted a proposal to buy Australian lithium start-up Liontown Resources in a deal valued at ~US$3.66B, prompting expectations of wider consolidation in the industry .

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