PERTH (miningweekly.com) – Emerging lithium hopeful Sayona Mining has submitted its bid for North American Lithium (NAL), in Quebec.
NAL in 2018 produced 114 000 t of spodumene against a nameplate capacity of 180 000 t. The operation also has the potential to produce battery-grade lithium carbonate with the necessary investment.
NAL halted production early last year, and in May of last year the Quebec Superior Court ended creditor protection, inviting bids for the company’s assets. The bid deadline closed on February 21.
Sayona on Monday said that its bid for the NAL assets had the unique advantage of being able to combine lithium produced from its own Authier project with the lithium at the NAL site, facilitating a significant improvement in plant performance and economics.
Sayona’s Authier project, for its part, is expected to produce 87 400 t/y of spodumene over a mine life of 18 years, with the project expected to cost C$83.6-million to develop.
Sayona MD Brett Lynch said the company was confident of achieving a successful turnaround at NAL, and generating value for all stakeholders.
“Today’s submission is an important step not only for Sayona and NAL, but also for the Quebec government’s plans to develop a sustainable and profitable lithium industry.
“We are confident we have the right team with the necessary experience and financial capacity to transform NAL. We look forward to engaging with the administrator and other key parties to successfully conclude the bidding process,” Lynch said.