- Sayona Mining (SYA) delivers its first shipment of 20,500 tonnes of lithium spodumene concentrate
- The shipment comes from SYA’s NAL operation in Québec, Canada
- It establishes NAL as North America’s leading producer of hard rock lithium
- The next 30,000-tonne shipment of spodumene concentrate is being sold to Piedmont Lithium in August-September, which owns a 25 per cent stake in NAL with Sayona
- SYA shares last traded at 15.3 cents
Sayona Mining (SYA) has delivered its first shipment consisting of approximately 20,500 tonnes of lithium spodumene concentrate, which has been sold in the buoyant global spot market.
The source of this first shipment is Sayona’s North American Lithium (NAL) operation in Québec, Canada, establishing NAL as North America’s leading producer of hard rock lithium.
The cost of Sayona’s first concentrate shipment will be determined based on the Fastmarkets spodumene spot price index, the Fastmarkets lithium hydroxide monohydrate spot price index, and the Shanghai Metals Market battery-grade lithium hydroxide spot price index.
SYA expects to receive payment within five business days of shipment receipt, providing crucial cash flow to accelerate operations at NAL.
“This first shipment is another significant milestone as we fast‐track production at North America’s key source of hard rock lithium,” SYA Managing Director Brett Lynch said.
“With our recent study showing the outstanding value of downstream processing at NAL, we look forward to developing a vertically integrated operation and facilitating the ongoing development of a North American supply chain for this key 21st-century mineral.”
The next shipment of spodumene concentrate is set to be sold to Piedmont Lithium (PLL), which holds a 25 per cent stake in NAL alongside Sayona.
The estimated volume of the upcoming shipment is 30,000 metric tonnes, expected to be shipped around August-September, pending ship sizing and availability.
SYA shares last traded at 15.3 cents.