ASX-listed lithium hopeful Sayona Mining has announced its plans to participate in a bidding process of the embattled North American Lithium (NAL) operation, in Quebec.
NAL halted spodumene production in February this year, with the company obtaining protection from creditors in May. However, the Quebec Superior Court earlier this month ended the creditor protection, inviting bids for the company’s assets.
Sayona MD Brett Lynch said on Tuesday that the potential to revitalize the NAL operation presented a unique opportunity both fort the company and Quebec.
“NAL’s operations has unrealised potential and Sayona would welcome the opportunity to bring the world-class experience of our company and our partners towards revitalizing the mine,” Lynch said.
“In addition, our nearby high-quality Authier project, which is currently in the process of securing the necessary regulatory approvals, could be integrated bringing significant operational improvements.
“This could facilitate the development of a hub for lithium extraction and downstream processing in Abitibi, which is ideally positioned to participate in the growth of the North American battery sector.”
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.
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.
