U.S. firm Piedmont Lithium and Australian lith-ium producer Sayona Mining have announced they completed the acquisition of North American Lithium (NAL), a company based in Canada.
“Sayona Quebec is 25% owned by Piedmont Lithium and 75% owned by Sayona Mining. Piedmont Lithium is Sayona Mining’s largest shareholder at 18.8%,” Piedmont Lithium said in a statement.
Piedmont said that, together with Sayona, they are currently advanc-ing technical studies for the future restart of NAL’s spodumene con-centrate operations. A scoping study is expected to be completed in the second half of 2021.
“Additionally, studies have commenced for the manufacturing of lith-ium chemicals in the Province of Québec, which could position the province to become an important lithium hydroxide production cen-ter,” the statement said.
Keith D. Phillips, the president and CEO of Piedmont Lithium, said that commented: “North American Lithium is a past-producing busi-ness with $400mm of investment over the past decade”.