North American lithium products supplier Piedmont Lithium and Sayona Mining, an Australian mining company, have provided an update on their proposed merger. The merger will combine the two companies to establish a lithium business named Elevra Lithium.

Sayona will become the parent entity of the combined lithium business, under the terms of the merger deal announced in November 2024.

“We are working closely on integration planning with our partners at Sayona, and I am excited about the new company that will emerge from this merger. I am very pleased with the strong and talented Board that will lead the new combined business, combining highly relevant mining and operations experience with a strong emphasis on corporate governance under Dawne’s leadership,” said Keith Phillips, President and CEO of Piedmont Lithium.

Completion of the Transaction is targeted to close in mid-2025 and remains subject to approval by Piedmont and Sayona shareholders, regulatory approvals and other customary conditions for a transaction of this nature. A disclosure document containing important information about the Transaction will be delivered to Piedmont shareholders and filed with the U.S. Securities and Exchange Commission in due course, likely in the first half of calendar 2025.