Australia's Sayona Mining rises on resumption of lithium project in Canada

Elevra Lithium

31/03/2023 02:40

** Shares of Sayona Mining Ltd  SYA.AX  rise as much as 4.9%
to A$0.215
    ** The lithium miner says the co along with Piedmont Lithium
Inc  PLL.O  announced the restart of commercial spodumene
concentrate production at jointly owned North American Lithium
(NAL) project in Quebec, Canada  
    ** Co is targeting 226,000 metric tonnes per year of annual
production with first commercial shipments expected in Q3 2023
    ** Shipments from NAL are expected to supply key battery and
electric-vehicle manufacturers, including LG Chem and Tesla
    ** Piedmont shares rise as much as 5.9% to A$0.895, their
highest since March 7, set for a five-day winning streak if
gains hold
    ** Sayona stock up 7.9% this year, as of last close
    
  

 (Reporting By Udbhav Krishna P in Bengaluru)
 ((UdbhavKrishna.P@thomsonreuters.com))