Sayona Mining (ASX: SYA) has recently delivered its first commercial shipment of lithium-bearing concentrate from its North American Lithium project (NAL) in Quebec, Canada. The project, which is Sayona’s flagship operation, was acquired in August 2021 in partnership with Piedmont Lithium Inc., who owns the remaining 25%. This milestone marks a significant achievement for the company.
“This first shipment confirms Sayona’s ability to meet the world’s ever‐growing demand for lithium and play a role in the global energy transition,” said Guy Belleau, CEO of Sayona’s Quebec subsidiary.
“We are delighted that this lithium, which was produced in Québec according to the highest industry standards, will contribute to decarbonization and electrification.”
The shipment consists of 20,500 metric tonnes of spodumene concentrate and is to be sold into the global spot market via a major trading company. The ship carrying it, the AAL Moon, departed Canada on 1 August 2023. Sayona is monitoring the process chain of the product as a pathway to global lithium chemical accreditation and will sell according to the Fastmarkets Spodumene spot price index.
The next shipments of 30,000 metric tonnes will be sold to Piedmont Lithium under terms of the existing offtake agreement. These shipments are expected to depart in August and September, subject to ship sizing and availability. The NAL stockpile at the port contains enough concentrate to fulfil this obligation.
Sayona’s NAL project is rapidly becoming a hub for lithium production in Quebec, Canada. This first shipment confirms the company’s ability to meet the growing demand for lithium, a vital component in helping to achieve the world’s decarbonization and electrification targets.
Sayona’s managing director, Brett Lynch commented, “We are particularly pleased to make this first shipment in less than two years since NAL’s acquisition in August 2021, reflecting the team’s strong execution capabilities and commitment.”
The commercial shipment of lithium-bearing concentrate is a defining moment for the company, as it establishes Sayona’s place in meeting the world’s ever-growing demand for lithium, and its role in the global energy transition. As the demand for lithium continues to rise, Sayona Mining’s NAL project is well positioned to thrive in this growing market and contribute to achieving decarbonization and electrification targets.
