Friday , January 15 2021

Lithium from here in Tesla

Lithium from Abitibi’s belly is expected to end up under the hood of Tesla after two Australian mining giants reached a deal to sell the raw material to Elon Musk’s company.

” It’s a first. There will be lithium from Abitibi in Tesla’s cars because Piedmont Lithium already signed a contract with them last September, ” Newspaper Guy Laliberté [il ne s’agit pas du fondateur du Cirque du Soleil], Chief Executive Officer of Sayona Quebec.

Yesterday, the Australian Piedmont Lithium took over 20% of the other Australian Sayona and 25% of the shares of its Sayona Quebec sector, which has the Authier project in La Motte (in the process of authorization) and the project Tansim in Moffet (in exploration phase), in Abitibi-Témiscamingue.

Basically, Piedmont Lithium, which just signed an agreement with Tesla last fall to provide it with a third of its spodumene production, took out its checkbook to ensure it has 50% of Quebec production to come.

If all goes well, Sayona’s spodumene will power the Piedmont Lithium project in North Carolina, which will supply spodumene concentrate and lithium hydroxide to California-based Tesla.

“It’s good for Sayona. It’s good for Quebec. Piedmont is worth US $ 500 million on the stock market, ”continues Mr Laliberté, who does not say no to the 12 million, which land in the coffers for its growth.

Battery sector

Last September, The newspaper revealed that Quebec is ready to invest up to $ 1.4 billion to have an electrification industry focused on the lithium battery, dear to the Minister of the Economy, Pierre Fitzgibbon.

However, for the moment, it seems that it is still the raw material that arouses interest, but Guy Laliberté of Sayona Quebec believes that the Legault government is doing well to continue to want to attract battery manufacturers here.

After the failure of Nemaska Lithium and North American Lithium, Guy Laliberté believes that the strategy of developing critical and strategic materials is bearing fruit and that the best is yet to come.

“Quebeckers must realize that we are not sitting on lithium mines here. We are sitting on gold mines, ”says the one who does not hide his desire to buy North American Lithium in the coming weeks.

According to him, the fact that companies are ready to lengthen millions while the Authier project is not due to see the light of day until the end of the year speaks volumes.

“It gives Quebec confidence again. We should be happy, ”he concludes, stressing that the Authier mine will pay $ 57.5 million in royalties over 14 years, excluding amounts to the Abitibiwinni aboriginal nation.

Sayona Quebec is owned by the Australian giant Sayona Mining. Its shareholders include mining companies and funds, but also the Council of the Abitibiwinni First Nation, which is its 16e major shareholder.

SAYONA QUEBEC

  • Projects: Authier (La Motte) and Tansim (Moffet)
  • Foundation: 2016
  • Head quarter : Sayona Mining
  • The head office : Paddington, Australia
  • Market value: $ 69 million

PIEDMONT LITHIUM

  • Foundation: 1983
  • The head office : Perth, Australia
  • Market value: $ 637 million

Source: Sayona Quebec and Piedmont Lithium

www.journaldequebec.com

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