Sayona ships NAL lithium concentrate, begins revenue stream

Sayona Mining (ASX: SYA; OTC: SYAXF) has made the first commercial shipment of lithium-bearing concentrate from the North American Lithium (NAL) project in Quebec. The project is operated by Sayona Mining Quebec, jointly owned by Sayona (75%) and Piedmont Lithium (25%).

The shipment totaled 25,000 tonnes of spodumene concentrate to be sold into the global spot market via a major trading company. The AAL Moon departed Canada on Aug. 1, 2023. The U.S. dollar selling prices for the concentrate will be derived from the Fastmarkets Spodumene spot price index.

The next shipments of spodumene concentrate will be sold to Piedmont Lithium under terms of the existing offtake agreement. The estimated size of the shipments is 30,000 tonnes, and it is expected to depart in August and September, subject to ship sizing and availability. The NAL stockpile at the port contains enough concentrate to fulfill this obligation.

“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,” said Sayona managing director Brett Lynch.

Guy Belleau, CEO of Sayona Quebec, said he is proud of the local team and partners in Abitibi-Témiscamingue. “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. We are delighted that this lithium, which was produced in Québec according to the highest industry standards, will contribute to decarbonisation and electrification,” he added.

Review the highlights of the NAL feasibility study on SayonaMining.com.