Piedmont and Sayona to Unite under Elevra Lithium
Deal News | Apr 14, 2025 | EIN
Piedmont Lithium Inc. and Sayona Mining Limited have announced an update to their planned merger, which will operate under the new name Elevra Lithium. The merger, originally announced in November 2024, aims to form a prominent player in the global lithium market, essential for the U.S. electric vehicle supply chain. The merger is subject to Sayona shareholder approval and regulatory conditions. Elevra Lithium will feature a balanced board of directors with members from both companies, led by Chair-designate Dawne Hickton. Key figures such as Keith Phillips of Piedmont will transition to advisory roles post-merger. The merger is expected to finalize by mid-2025, with details forthcoming to shareholders.
Sectors
- Lithium Mining
- Electric Vehicle Supply Chain
Geography
- United States – Piedmont Lithium is a supplier primarily to the U.S. EV supply chain.
- Australia – Sayona Mining is an Australian company, and its integration with Piedmont emphasizes a cross-continental merger.
Industry
- Lithium Mining – The article discusses the merger of two companies involved in lithium mining, an essential component for electric vehicle (EV) batteries.
- Electric Vehicle Supply Chain – The significance of the merger is highlighted due to its impact on the supply chain for electric vehicles, emphasizing the strategic value of lithium.
Financials
- N/A – No specific financial figures were disclosed in the article.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Piedmont Lithium Inc. | Merging Company | Company | U.S. based supplier of lithium, important for the electric vehicle supply chain. |
| Sayona Mining Limited | Merging Company | Company | Australian mining company focused on lithium production. |
| Elevra Lithium | Target Company | Company | The new entity formed by the merger of Piedmont and Sayona. |
| Dawne Hickton | Chair-designate | Person | Nominated Chair of Elevra Lithium's Board. |
| Keith Phillips | President and CEO (transitioning to Strategic Advisor) | Person | Current CEO of Piedmont Lithium, transitioning to a strategic advisory role post-merger. |