Sayona Mining has been heavily focused on selling its spodumene concentrate to China, and there’s a pretty straightforward reason for that, it’s all about where the processing capacity is. Right now, China dominates the lithium refining game, and most of the world’s spodumene ends up there because they’ve got the infrastructure to turn it into battery-grade lithium. Europe, on the other hand, doesn’t have the same level of refining capacity yet, which makes it a less immediate option for Sayona.
That said, there’s definitely chatter about Europe being a potential market in the future. With the EU pushing hard for a greener economy and aiming to reduce reliance on Chinese supply chains, there’s a growing demand for lithium and other battery materials. Sayona’s operations in Quebec are strategically located to supply both North America and Europe, so it wouldn’t be surprising if they’re keeping an eye on opportunities across the Atlantic.
For now, though, it seems like China is the go-to destination simply because it’s where the demand and infrastructure align. If Europe ramps up its refining capabilities, we might see Sayona diversifying its customer base. It’s definitely a space to watch for Sayona, sorry Merge Co.
SYA Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
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