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Piedmont Lithium Announces Strategic Investment in Quebec Hard-Rock Lithium Developer Sayona Mining

Retrieved on: 
Monday, January 11, 2021
Natural Resources, Alternative energy, Energy, Automotive, Chemicals, Plastics, General Automotive, Mining, Minerals, Manufacturing, Minerals, Chemistry, Physical sciences, Sayona, Undead, Venezuelan culture, Mood stabilizers, Lithium, Spodumene, Authier, Sayona Mining, Piedmont Lithium

Piedmont Lithium Limited (Piedmont or Company) is pleased to announce that it has entered into agreements (Agreements) to establish a strategic partnership with Sayona Mining Limited (Sayona) (ASX:SYA) through the purchase of equity stakes in Sayona and its 100% owned Quebec subsidiary, Sayona Quebec Inc (Sayona Quebec), as well as a binding supply agreement for at least 50% of Sayona Quebecs planned spodumene concentrate production.

Key Points: 
  • Piedmont Lithium Limited (Piedmont or Company) is pleased to announce that it has entered into agreements (Agreements) to establish a strategic partnership with Sayona Mining Limited (Sayona) (ASX:SYA) through the purchase of equity stakes in Sayona and its 100% owned Quebec subsidiary, Sayona Quebec Inc (Sayona Quebec), as well as a binding supply agreement for at least 50% of Sayona Quebecs planned spodumene concentrate production.
  • Piedmont will also purchase a 25.0% stake in Sayona Quebec for approximately US$5.0 million in cash (Project Investment).
  • Sayona Quebec owns the DFS-level Authier lithium project, the highly prospective Tansim lithium project, and is pursuing a bid to acquire Quebec-based North American Lithiums (NAL) assets.
  • Piedmont and Sayona Quebec have also entered into a binding spodumene concentrate (SC6) supply agreement (Supply Agreement) pursuant to which Sayona Quebec will supply to Piedmont the greater of 60,000 t/y or 50% of Sayona Quebecs SC6 production at market prices on a life-of-mine basis.