Sayona Mining Ltd (SYAXF)

[TradingCharts]

Brisbane, Oct 28, 2020 AEST (ABN Newswire) - Emerging lithium miner Sayona Mining Limited (ASX:SYA) (DML:FRA) (DMNXF:OTCMKTS) announced today a collaboration with Australian clean technology provider Integrated Carbon Sequestration Pty Ltd (ICS) over its clean and green lithium hydroxide technology.

- Collaboration to explore refining of spodumene from Sayona's flagship Authier Lithium Project into battery-grade lithium hydroxide, for electric vehicle (EV) and battery markets

- Tansim Lithium Project expanded as part of planned development of lithium hub in Abitibi, Quebec.

The collaboration follows the rapid growth of lithium hydroxide demand in North America on the back of the EV and battery storage revolution, as seen with Tesla's planned development of a lithium hydroxide plant in Texas, the first such move by an automaker into lithium chemicals production.

Under the collaboration, both companies will work jointly on the development of ICS technology for the refining of spodumene into battery-grade lithium hydroxide, as preferred by leading automakers.

Compared with sulfuric acid-based processes, scoping studies undertaken on the ICS Process foreshadow lower capital costs and the halving of operating costs, together with game-changing environmental benefits under its system for recycling all chemicals.

The process also offers particularly high product purities for lithium hydroxide monohydrate, while at least 90% of the lithium in the original ore concentrates can be recovered and converted to marketable lithium chemical products. In addition, the closed process allows sulfuric acid-based hydroxide plants to be refurbished into clean ICS hydroxide plants at low cost.

Welcoming the agreement, Sayona's Managing Director Brett Lynch said: "Sayona has long identified the need for downstream processing to occur in Quebec, but we have been seeking a cleaner technology to replace current sulfuric acid-based systems.

"The ICS Process offers a clean and green solution that could potentially be implemented on-site in Quebec, thereby ensuring the province captures increased value from its lithium resources while facilitating the development of a 100% Quebec battery, as sought by the Quebec Government.

"This venture is a major step forward as we work to maximise the value of our planned lithium hub in Abitibi and become a leading supplier of lithium hydroxide to the North American EV market."

ICS Managing Director Richard Hunwick said the collaboration offered enormous opportunities for both parties as well as the broader lithium industry.

"ICS has been developing our clean and green technology since 2014, working closely with the CSIRO and other leading researchers on a closed-loop process that offers substantial environmental and economic benefits," Mr Hunwick said.

"We are delighted to work with Sayona in exploring the potential of our technology in Quebec, a province well served with clean and green hydro power as well as other competitive advantages for supplying the fast-growing North American battery market."

The collaboration follows recent investments by the Canadian federal and Ontario governments supporting Ford Motor Co's C$2 billion investment in EV production in Ontario, together with a C$1.5 billion investment by Fiat Chrysler in plug-in hybrids and EVs.

https://www.abnnewswire.net/press/en/103081/Sayona-Mining-Ltd-(ASX-SYA)-Collaboration-on-Clean-Green-Lithium-Hydroxide-Technology.html