PLL - Piedmont Lithium Sayona Mining to restart production at Quebec project

Piedmont Lithium (NASDAQ:PLL) said on Tuesday that Sayona Mining, in which it owns a 25% stake, has authorized the restart of spodumene concentrate production at its North American Lithium project in Quebec. Piedmont Lithium (PLL) said the project will receive $80M of operational upgrades to improve product quality and plant use, with spodumene concentrate production expected to restart in H1 2023. Under an offtake agreement agreed between Piedmont and Sayona, Piedmont is entitled to purchase the greater of 113K metric tons/year of spodumene concentrate or 50% of production from the project. The companies also expect to begin technical studies on a possible lithium conversion plant in Quebec and will update the market in the coming months. Piedmont Lithium (PLL) "will emerge among a handful of new lithium conglomerates over the next five years," Paul Ensor writes in a bullish analysis published on Seeking Alpha.

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Piedmont Lithium, Sayona Mining to restart production at Quebec project