Piedmont Lithium, Sayona Mining finalize merger to form North America's largest lithium producer

Lithium producers Piedmont Lithium and Sayona Mining have completed their all-stock merger, forming the largest lithium producer in North America.

In parallel statements released Sept. 1, the two parties confirmed that the merger was completed on Aug. 29, following shareholder approval and the satisfaction of all closing conditions.

As part of the merger, a newly established US subsidiary of Sayona has merged into Piedmont, leading to a 50:50 equity distribution split between the shareholders of each company.

The new entity will be named Elevra Lithium and will retain listings on both the ASX and NASDAQ, streamlining operations and enhancing growth potential.

According to the companies, the name change is pending approval from the Australian Securities and Investments Commission and is expected to be finalized at the end of September.

The companies plan to raise around $99 million in equity, with US-based Piedmont Lithium proposing a capital raise of about $27 million and Sayona committing to A$40 million (approximately $27 million). Following the transaction, Sayona will seek an additional A$69 million.

Piedmont Lithium president and CEO Keith Phillips described the merger as "a transformative milestone for our shareholders, employees and partners."

"The combination with Sayona significantly strengthens our global footprint, enhances scale, and positions us to be a leading supplier of lithium resources to the growing EV and stationary storage supply chains."

"We are excited to move forward as a combined company with Sayona and to build long-term value for all stakeholders," he said.

Sayona Mining CEO and managing director Lucas Dow said: "This merger is not just about combining assets -- it is about unlocking synergies, strengthening our market position, and delivering long-term value for our shareholders, stakeholders and communities.

The timing of the merger aligns with increasing focus on North American lithium supply chain security, as automotive manufacturers and battery producers seek to reduce dependence on imports from other regions while meeting growing demand for electric vehicle batteries and grid-scale energy storage systems.

The merger creates significant operational synergies by combining Sayona's producing assets in Quebec's lithium-rich region with Piedmont's development pipeline. Sayona controls several assets in Quebec, including North American Lithium (NAL) and the Authier and Tansim Lithium Projects, while Piedmont holds a 25% stake in NAL and is developing its Carolina Lithium project in the US.

NAL is North America's sole producer of lithium spodumene concentrate, capable of producing approximately 220,000 mt/year, equivalent to 30,000 mt/year of lithium carbonate.

Platts, part of S&P Global Energy, assessed daily DDP US battery-grade lithium carbonate at $11,050/mt Aug. 29, stable week over week, reflecting standard battery-grade quality, minimum 99.5% Li2CO3, delivered 15-60 days forward.

Platts assessed daily DDP US battery-grade lithium hydroxide at $11,150/mt Aug. 29, unchanged week over week, reflecting standard battery-grade quality, a minimum of 56.5% LiOH H20, delivery 15-60 days forward, and a minimum volume of 5 mt.