Sayona-Piedmont merger forms Elevra Lithium with equal board representation

Reuters

Thu, Apr 10, 2025, 6:44 AM 1 min read

(Reuters) - The combined institution pursuing Australia-based Sayona Mining's woody to bargain Piedmont volition beryllium known arsenic Elevra Lithium and its committee volition person 4 nominees from each of the 2 firms, the miners said connected Thursday.

Lithium companies person been reeling from debased prices arsenic accelerated proviso maturation has outpaced beardown request projections amid a slower-than-expected uptake of electrical vehicles.

In November, Sayona said the all-stock woody for U.S.-based Piedmont volition assistance to consolidate its Canadian operations and fortify its vulnerability to the North American electrical conveyance sector.

Analysts expect prices of the metallic to stay nether unit successful 2025 arsenic good owing to an unwaveringly resilient lithium supply.

The merger is expected to beryllium completed successful mid-2025, the companies said.

(Reporting by Mrinalika Roy successful Bengaluru; Editing by Shounak Dasgupta)