Photo by: © Bloomberg
Name of the Project
North American Lithium (NAL) project.
Location
Quebec, Canada.
Project Owner/s
Sayona Quebec is 75%-owned by Sayona Mining and 25%-owned by Piedmont.
Project Description
A positive prefeasibility study completed in May 2022 confirmed the project’s technical and financial viability.
The project has a mine life of 27 years, based on Joint Ore Reserves Committee-compliant proven and probable reserves of 29.2-million tonnes grading 0.96% lithium oxide.
Conventional bulk mining methods will be used to mine using hydraulic excavators, dump trucks and drill-and-blast, coupled to a run-of-mine stockpile. The processing plant will have a capacity of 1.5-million tonnes a year and will produce 163 266 t/y of spodumene concentrate for total spodumene production of 4.4-million tonnes over the mine’s life.
Potential Job Creation
Not stated.
Net Present Value/Internal Rate of Return
The project has a pretax net present value, at an 8% discount rate, of C$952-million and an internal rate of return of 140%, with a capital payback of two years.
Capital Expenditure
A$102-million.
Planned Start/End Date
The operation is on track for resumption of spodumene concentrate production in the first quarter of 2023.
Latest Developments
First spodumene has been produced at the NAL operation. Commissioning of the project is proceeding on schedule and within budget.
An estimated 70 t of lithium concentrate has been produced, marking a significant milestone in the restart of the operation.
The first spodumene shipment is expected in July 2023, with four shipments targeted for the first half of the 2024 financial year. Sayona is targeting the production of between 85 000 t and 115 000 t of spodumene during this period.
Key Contracts, Suppliers and Consultants
L. Fournier & Fils (mining contract).
Contact Details for Project Information
Sayona Mining, tel +61 7 3369 7058 or email info@sayonamining.com.au.