[SMM News] Elevra Lithium Reports Record NAL Mined Tonnage, Underlying Ebitda Turns Positive in FY2026

Elevra Lithium mined a record 1.47Mt of ore at its NAL mine, Québec, in FY2026, up 14% YoY. Spodumene concentrate output was 197,967 t May monthly record: 22,202 t, down 3% YoY on lower H1 mill feed grades from adverse mining conditions, later addressed via mine planning and blending changes. Concentrate sales were 181,494 t; average recovery 67%, average utilisation 91%. Q4 (June quarter) was strongest: 71% recovery, 54,000+ t output.

Group underlying Ebitda was $14-million, including $46-million from NAL, up $57-million YoY. Non-cash extraordinary items totalled $62-million including $156-million NAL impairment reversal, $9 million inventory write-up, offset by $104-million merger related accounting impacts, $9 million in merger costs booked separately and Group profit after tax was $44-million, up $292-million YoY. Cash balance was at $255 million, after a $202-million equity raise funding NAL's expansion and the Moblan project. Elevra completed its Soyana Mining Piedmont Lithium merger in FY2026 and agreed to divest its Ewoyaa interest. Where, 197,967 t was produced and 181,494 t sold at NAL in FY2026 was released. But still , output fell by 3% despite higher ore mined, a grade that will be approved in FY2027 data.