Sayona Mining publishes positive PFS for NAL project in Québec

ASX-listed lithium project developer Sayona Mining has released a positive pre-feasibility study (PFS) for its North American Lithium (NAL) project in the Canadian province of Québec, indicating its technical and financial viability.

Sayona, which is backed by US-based Piedmont Lithium with a 17% equity share, hopes to become North America’s first spodumene producer next year while also contributing to a broader lithium hub in the Abitibi region.

The PFS estimates a net present value (NPV) of around US$708.2 million, a low capex of about $70.82 million and a 27‐year life of mine. The figures have been welcomed by Piedmont, which also holds a 25% stake in NAL and the nearby Authier lithium project.

Sayona’s managing director Brett Lynch said the PFS shows the company’s ability to quickly transform the NAL project, which contains a previously producing lithium mine and concentrator.

“Sayona’s acquisition of NAL and turnaround plan was not based simply on restarting the existing operation,” he said. “Rather, it was based on our strategy of creating an Abitibi lithium hub, drawing upon the operation of our nearby Authier project and investing in plant upgrades to deliver improved profitability and performance

“We have been modest with our pricing assumptions, but as the sensitivity analysis indicates, there is potential for significant upside in the NPV projection given recent trends in spodumene prices.

“Notably, there are several options to move downstream, including completing the existing carbonate plant at NAL, which would provide for a low capex and accelerated pathway to market.”