Sayona Momentum Builds as Bidding Process Extended for NAL
Brisbane, June 16, 2020 AEST (ABN Newswire) - Emerging lithium miner Sayona Mining Limited (
ASX:SYA) (DML:FRA) (DMNXF:OTCMKTS) announced today the bidding process for North American Lithium (NAL) has been further extended, amid growing momentum for the Company's bid and the ongoing transformation of Quebec's lithium industry.
Sayona's Managing Director, Brett Lynch said: "Understandably, the bidding process has been delayed due to the continued impact of the COVID-19 pandemic in Quebec.
"However, the Government is aiming to restart economic activity and the lithium sector is set to be a key part of this process."
Sayona's Quebec expansion comes amid broader industry restructuring, including Nemaska Lithium, with offers due by the end of June for Nemaska under its court-administered process.
Sayona is confident of advancing its bid for NAL, following positive talks with potential investors and financiers concerning the Company's turnaround strategy.
Sayona's bid is backed by a world-class support team and the unique competitive advantage of being able to combine lithium produced from the Company's nearby Authier Lithium Project with the lithium at the NAL site, facilitating a significant improvement in plant performance and economics.
The bid comes amid increasing momentum towards electrification as part of the global post-pandemic recovery effort, with Europe and Asia recently committing billions of dollars towards the clean energy sector, including electric vehicles powered by lithium-ion batteries.
The Quebec Government has also backed this push, with its support for the strategic minerals sector including a C$90 million (A$96 million) investment announced in its fiscal 2021 budget.
Mr Lynch added: "Quebec's lithium industry is undergoing a transformation to deliver a sustainable and profitable industry, benefitting from the province's competitive advantages and its proximity to the fastgrowing North American and European battery market.
"We are continuing to engage with key stakeholders to further advance this strategic process, with our planned turnaround at NAL set to support jobs, investment and Quebec's lithium strategy."
About Elevra Lithium Limited
Elevra Lithium Limited (ASX:ELV) (NASDAQ:ELVR) is a dual-listed lithium producer and developer, supplying a reliable, secure and sustainable source of this critical mineral at the heart of global electrification.
Headquartered in Brisbane, Australia, Elevra has a globally diversified portfolio of world-class lithium assets across Quebec, North Carolina, Ghana, and Western Australia. Elevra was formed through the merger of Piedmont Lithium and Sayona Mining.
By combining operational excellence with disciplined asset management, we strive to maximise efficiency, drive superior shareholder value, and create lasting benefits for all stakeholders.
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