Piedmont Lithium (ASX:PLL) and Sayona Mining (ASX:SYA) will combine to create a lithium business named Elevra Lithium.
In November 2024, the companies proposed a merger to build a business with spodumene resources of global scale with the aim to become the largest lithium producer in North America.
Upon completion and subject to Sayona shareholder approval, further details on the new name, brand, and logo will be provided closer to the transaction completion, which is expected to be mid-2025.
Piedmont CEO Keith Phillips says the company is working closely on integration planning with Sayona.
“I am very pleased with the strong and talented board that will lead the new combined business, combining highly relevant mining and operations experience with a strong emphasis on corporate governance under Dawne’s leadership,” Phillips says.
Each of Piedmont and Sayona’s board of directors have selected their respective nominees to the board of Elevra, which will be effective as of the closing of the transaction.
Elevra’s board will consist of four Piedmont nominees, Dawne Hickton, Christina Alvord, Jeff Armstrong, and Jorge M. Beristain, and four Sayona nominees, Lucas Dow, James Brown, Allan Buckler, and Laurie Lefcourt.
Elevra Chairman designate Dawne Hickton says the skills and experience of this group of people will be a significant factor in the future success of the merged company.
“I look forward to building a strong connection and leveraging our collective skills and experience to work with Elevra Lithium’s management team to devise and deliver against the strategy for what will become one of the world’s leading companies,” Hickton says.
Piedmont Lithium is focused on developing a multi-asset integrated lithium business focused on enabling the transaction to a net zero word and creating a clean energy economy in North America.
Sayona Mining is an emerging supplier of lithium for North America’s electrification. The company has assembled a northern lithium hub across Québec, Canada.
Write to Aaliyah Rogan at Mining.com.au
Images: Piedmont Lithium
