Sayona Mining (ASX:SYA) has received shareholder approval to merge with Piedmont Lithium (ASX:PLL), with subsequent completion of the proposed deal scheduled for 30 August 2025.
Both companies proposed the merger in November 2024 with the stated aim of becoming the largest lithium producer in North America, as previously reported.
The proposed merged entity is expected to be renamed to Elevra Lithium consisting 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.
CEO Lucas Dow says this is a “defining milestone” in Sayona’s journey.
“The overwhelming shareholder support for our merger with Piedmont Lithium reflects a shared vision to create a leading, globally significant lithium company,” Dow says.
“Together, we are unlocking tremendous growth potential, strengthening our position in the global battery materials supply chain.”
In conjunction, Sayona has increased the Moblan Lithium Project’s resource, located in Québec, Canada, to 121 million tonnes @ 1.19% lithium oxide.
This latest resource update represents a 30% increase to the previous August 2024 resource and a 650% increase since Moblan was acquired by the company in 2021.
Sayona has also increased Moblan’s ore reserves to 48.08 million tonnes @ 1.31% lithium oxide, representing a 39% increase to the previous ore reserve estimate in February 2024 and a 350% increase since Moblan was acquired.
Dow notes that the further expansion of Moblan is a testament to the company’s commitment to unlock the full potential of its assets in the Eeyou-Istchee James Bay region.
“Moblan remains one of the largest and best located development stage lithium projects in Québec with access to hydropower, immediately adjacent to an all-weather highway and 130km from the Chibougamau rail head linking the resource directly to future processing in Bécancour or export facilities in Eastern Canada,” the CEO says.
Sayona Mining is an emerging supplier of lithium for North America’s electrification. The company also holds a large tenement portfolio in the Pilbara region prospective for gold and lithium.
Piedmont Lithium is a US lithium-focused company actively supplying the market.
Write to Aaliyah Rogan at Mining.com.au
Images: Sayona Mining
