at 3:07 a.m.
Hand OVER TO SAYONA
https://ici.radio-canada.ca/nouvelle/1796544/sayona-quebec-north-american-lithumSayona agrees with Quebec to acquire North American Lithium
North American Lithium Mine Plant (Archived)
PHOTO: NORTH AMERICAN LITHIUM
Marc-André Landry (access the author's page)Marc-André LandryThe North American Lithium mine in La Corne, closed since 2019, should pass into the hands of Sayona Quebec.
The Government of Quebec, through Investissement Quebec, reached an agreement with Sayona and its partner Piedmont Lithium, following a long legal process. North American Lithium came under the Creditors Arrangement Act and Investissement Québec was one of the company's secured creditors.
The agreement, which received the support of Controller Raymond Chabot Grant Thornton, must now be submitted to the Superior Court of Quebec for approval in the coming weeks.
For Guy Laliberté, CEO of Sayona Quebec, this is an important step in the development of the company's projects in Abitibi-Témiscamingue.
This is a step in the right direction for this acquisition, which must always be ratified by the court, he recalls. But we can assure you that if the agreement comes to fruition, it includes a commitment to rehabilitate and restart North American Lithium production, in addition to a commitment to carry out secondary lithium processing in Quebec.
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Sayona Quebec sees the acquisition of North American Lithium as a central point of its strategy in Abitibi-Témiscamingue, which also includes the development of the Authier projects, in La Motte, and Tansim, in Témiscamingue.We feel a strong potential for synergy between our projects for the entire development of the chain of critical and strategic metals related to batteries, starting with lithium, explains Guy Laliberté. The region has great potential for lithium development. We have the ambition to invest in this plant and put our plan into action, which will also involve upgrading environmental facilities.
Sayona Quebec refuses to advance on the investments that will be necessary for this relaunch, but the company mentioned $ 110 million during a presentation in Amos, in January 2020.
Moreover, the purchase of the concentrator at La Corne could modify the Authier project at La Motte, since the company could abandon the idea of building a factory there.
This is an option that could be seriously considered. The acquisition of North American Lithium would have the advantage of placing this concentrator at the center of a lithium pole which would become a regional development tool, in addition to significantly reducing the environmental footprint of the Authier project , adds Guy Laliberté.
