Photo by: Sayona Mining
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 the resumption of spodumene concentrate production in the first quarter of 2023.
Latest Developments
Sayona Mining has marked another milestone at NAL, with 30 000 t of lithium concentrate now produced. Commercial production of spodumene concentrate started in June, while first spodumene concentrate had been produced in March 2023.
“Since restarting production in March 2023, we have worked hard to ensure a successful production ramp‐up and we continue to deliver speed and tonnage ahead of schedule,” Sayona MD Brett Lynch has said.
Sayona is building stockpile at port ahead of its first planned shipment in July this year. It is targeting total NAL spodumene concentrate production of between 85 000 t and 115 000 t during the first half of the 2024 financial year.
The company is also planning additional drilling in 2023, with more than 50 000 m of drilling planned at NAL and at the adjacent Valleé lithium project.
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.