North American lithium supplier Piedmont Lithium and Australian mining company Sayona Mining have shared an update on their proposed merger, which aims to establish a new lithium entity named Elevra Lithium.
Under the terms of the deal announced in November 2024, Sayona will become the parent company of the combined business.
The merger remains on schedule for completion by mid-2025, pending shareholder and regulatory approvals.
The boards of both companies have confirmed their nominees for Elevra Lithium’s Board of Directors, which will include equal representation from Piedmont and Sayona.
The board will be led by chair-designate Dawne Hickton, with Sayona’s current Managing Director and CEO also set to join.
As part of the transition, Paul Crawford and Philip Lucas (Sayona), along with Michael Bless and Claude Demby (Piedmont), will step down from their current roles and will not serve on the new board.
Piedmont CEO Keith Phillips will shift into a strategic advisor role at Elevra Lithium after the merger concludes.
“I am honoured to have been selected as chair-designate for Elevra Lithium,” said Hickton. “The expertise of our new board will be key to the success of this global lithium leader.
I look forward to collaborating with the management team to shape and execute our long-term strategy.”
Once finalized, Elevra Lithium is expected to become a major force in the global lithium industry.
