Sayona Mining Conducts Operational Review and Restructuring for NALs Cost Optimization

Sayona Mining Limited (ASX: SYA) is conducting an operational review of its North American Lithium (NAL) operation, aiming to optimize the cost structure in response to dynamic global lithium market conditions. The focus is on reducing NAL’s cost base, managing cash flow, and ensuring financial sustainability in the challenging market. The review, in collaboration with a joint venture partner, is expected to conclude by the end of Q1 2024.

Despite market challenges, Sayona remains optimistic about NAL's strategic position as the only operating hard rock lithium mine in North America. Operational changes include the departure of Guy Belleau, CEO of Sayona Inc., with COO Sylvain Collard assuming direct management. To adapt to lithium market conditions, 14 staff have been made redundant in Québec operations, aligning the team for continued growth in North America’s electrification.

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