Sayona Mining announces operational review of North American Lithium operation

Published: Jan 25, 2024 18:53

Save

Sayona Mining is conducting an operational review of its North American Lithium (NAL) operation in Quebec, Canada to optimize NAL’s cost structure.

Sayona Mining is conducting an operational review of its North American Lithium (NAL) operation in Quebec, Canada to optimize NAL’s cost structure, according to the news released on Jaunary 25.

The latest review aims to reduce NAL’s cost base, manage cash flow, and preserve the Quebec operation’s financial sustainability. The review is expected to be completed by the end of Q1 2024. 14 staff members have been let go in the Quebec operations.

Sayona restarted the spodumene concentrate production at NAL in March 2023, with the first shipment of 19,200 tonnes of concentrate occurred in August 2023, making NAL one of the few operating hardrock mines in North America. For the full financial year, NAL recorded 33,120 tonnes of spodumene concentrate production. The last annual report released in October 2023 also mentions a ramp-up plan for NAL in 2024. It is unclear whether the operational review will impact the production and the ramp-up plan.

Market forecast Market review Output

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

23 hours ago

Beijing Launches 500-kV Power Project in Fengtai, Boosting Grid Resilience and Industrial Growth

On January 28th, the construction of the 500-kilovolt power transmission and transformation project in Fengtai, Beijing officially started. This project is the first newly-built 500-kilovolt power grid project in Beijing during the 15th Five-Year Plan period. It will significantly enhance the resilience and power receiving capacity of the southern Beijing power grid and provide reliable power support for Beijing to continuously optimize the investment structure and vigorously develop high-end, precise, and cutting-edge industries. The 500-kilovolt power transmission and transformation project in Fengtai, Beijing is a key project of Beijing's power grid during the 15th Five-Year Plan period and one of the "3 100" key projects in Beijing this year. It is constructed and managed by the State

23 hours ago

Shaanxi-Anhui UHV DC Project's 500-kV AC System at Hezhou Station Begins Operation After Trial Run

On February 1st, the 500-kilovolt AC system of the Hezhou Converter Station, the receiving-end station of the ±800-kilovolt UHV DC power transmission project from northern Shaanxi to Anhui, was officially put into operation after a 24-hour trial run.

23 hours ago

750-kV Power Line Connecting Northern to Central Shaanxi Fully Operational

On February 2nd, the 750-kilovolt power transmission and transformation project of the third passageway from northern Shaanxi to central Shaanxi was fully connected. The project starts from the 750-kilovolt Shuofang Substation in Shenmu City in the north and ends at the 750-kilovolt Bailuyuan Substation in Lantian County in the south. It has newly built a 1,271-kilometer line, passing through 18 counties (districts) in 4 cities including Yulin, Yan'an, Weinan and Xi'an.

23 hours ago