Bidders for Quebec's North American Lithium given more time
PERTH (miningweekly.com) – The administrators for North American Lithium (NAL) have extended the bid deadline from January 21 to February 21.
ASX-listed lithium miner Sayona Mining, which has placed its own bid for NAL, on Friday said that the extension was based on the court-approved sale procedures for NAL, which has a lithium mine and concentrator in Quebec.
Sayona MD Brett Lynch told shareholders that the bid extension would allow for further engagement with key stakeholders.
“Recent talks have been highly encouraging as we continue to outline the benefits of our strategy for NAL. We look forward to continuing our close engagement with key parties over the month ahead and delivering a bid that ensures a successful turnaround at the mine.”
NAL halted spodumene production at its mine in February last year. 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 is hoping to combine lithium produced at its own Authier project with the lithium from the NAL project, facilitating improvements 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.
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