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Sayona Mining may Bid for North American Lithium

Mining News - Published on Thu, 19 Sep 2019

Image Source: canadianminingjournal.com
Emerging lithium miner Sayona Mining Limited announced its intention to participate in the bidding process for the North American Lithium Inc operation in Quebec, Canada, following a Quebec Superior Court ruling commencing an asset sale process for the shuttered mine.

Highlights

- Sayona plans to participate in bidding for North American Lithium (NAL) mine in Quebec, Canada, following court ruling commencing asset sale process

- Company and partners offer experienced, world-class management to turnaround NAL and achieve sustainable and profitable operation

- Potential synergies with Sayona's emerging Authier Lithium Project, pending securing the necessary regulatory approvals
NAL has a lithium mine and concentrator located in Abitibi near the mining district of Val d'Or, Quebec.

Spodumene production was halted in February 2019 and the company obtained protection from creditors in May. Subsequently, on 16 September, the Quebec Superior Court ended creditor protection and invited bids for the company's assets. In 2018, NAL produced around 114,000 tonnes of spodumene against its nameplate capacity of 180,000 tonnes. In addition, the operation has the potential to produce battery-grade lithium carbonate with the necessary investment.

Source :

Posted By : Rabi Wangkhem on Thu, 19 Sep 2019
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