SYA

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2.7¢ sayona mining limited

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SBG14

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10/11/23

21:02

Post #: 70840960
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Originally posted by rgrant ↑

Taken from the Canadian House of Commons - 09NOV23

Mr. Sébastien Lemire:
Mr. Speaker, I thank my colleague from Rosemont—La Petite‑Patrie for his comments, which are always cordial but sometimes force us to dig a little deeper.
I will answer his question by giving him an example. Strategic critical minerals are a key issue. North American Lithium, a Chinese-owned lithium mine in Abitibi—Témiscamingue went bankrupt. Investissement Québec had shares in this company, which was put back on the market. In the end, an Australian company took it over, mainly for export purposes, and established partnerships with Tesla, among others.
With regard to long-term strategic needs, it is absolutely critical that Quebec own this resource. Right now, when major investments are made, like the ones the federal government is making in Stellantis, GM and Northvolt, there is no guarantee that supplies will come from Quebec or Canadian supply chains. Will GM vehicles and others have lithium from Quebec or Canada in their batteries? There is no guarantee of that.
The purpose is precisely to consider the long term. The Parliamentary Budget Officer has shown that we can cut five to 20 years from government investment if we develop the downstream supply chain from the mine and bring processing plants to Abitibi-Témiscamingue, like Sayona did. I acknowledge and thank Sayona for doing so, but it is important to have a facility near the mine to process the minerals that are needed at every stage, in other words, from the anode, cathode, chemistry, cell and other steps to the battery and then the automobile. There are economic and environmental benefits.
To respond to the question and concern of my colleague, this needs to be done in Quebec, because that is where the value-added is developed and there is a long-term vision.

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Why do you always have to post the same thing under three different threads rgrant. Just post it on the one thread is sufficient !

SYA Price at posting: 8.1¢ Sentiment: Hold Disclosure: Held
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Last 2.7¢		Change -0.001(3.57%)		Mkt cap ! $277.9M

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General Discussion Topics, page-124443

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