Mine / resource · Canada

North American Lithium

ProducingVerified 24 Oct 2026As of 24 Oct 2026
Owner
Elevra Lithium 100% (Sayona and Piedmont merged Aug 2025)
Listed via
ELV.AX
Product
Spodumene
Deposit type
Spodumene
Capacity
FY26 198 kt SC (~5.0% Li2O); FY27 guidance 198–210 kt SC5.2
≈ 25 kt LCE/yr (nameplate)
Location
48.41°, -77.83°
Source
Filing used for verification

Fully funded three-stage brownfield expansion under way (groundbreaking Jun 2026); PFS targets ~373 ktpa SC5.4 after Stage 3 (mid-CY29).

Ownership structure

Effective economic interest of listed owners · As of 24 Oct 2026
Elevra LithiumELV.AX100%North American LithiumMine / resource

Attributable capacity

Listed ownerStakekt SC/yrkt LCE/yr
Elevra Lithium ELV.AX100%≈225≈25

Capacity × effective stake. kt SC ≈ kt LCE × 9.0 (grade-based, 90% recovery).

Structure: Elevra Lithium 100% (Sayona and Piedmont merged Aug 2025).

Value chain

Owners, buyers and the refineries on Li3atlas they feed · As of 24 Oct 2026
Listed ownersElevra LithiumELV.AX · 100%
Mine / resourceNorth American LithiumFY26 198 kt SC (~5.0% Li2O); FY27 guidance 198–210 kt SC5.2
Buyers (offtakes)LG Energy SolutionSpodumene concentrate · 240 kt dmt base (30 kt 2026, 60 kt 2027, 60 kt 2028, 90 kt 2029) + up to 90 kt optionalMangrove LithiumSpodumene concentrate (SC6-equivalent basis) · 122 kt dmt in Year 1, 144 kt dmt/yr from Year 2 (take-or-pay)

Quarterly production

As of 30 Jun 2026
020406080UnverifiedJun Q 2025: 58.5 kt SC58.5USD 791Sep Q 2025: 52 kt SC52USD 818Dec Q 2025: 44.2 kt SC44.2USD 812Mar Q 2026: 47.3 kt SC47.3USD 884Jun Q 2026: 54.5 kt SC54.5USD 907Q2 25Q3 25Q4 25Q1 26Q2 26Q3 26Cost/t

kt SC, as reported · Source: Mar Q 2025, Jun Q 2025, Sep Q 2025, Dec Q 2025, Mar Q 2026, Jun Q 2026

67$1,453Production (kt SC): 43.3Sales (kt SC): 27Mar Q 25Production (kt SC): 58.5Sales (kt SC): 67Jun Q 25Production (kt SC): 52Sales (kt SC): 26Sep Q 25Production (kt SC): 44.2Sales (kt SC): 66Dec Q 25Production (kt SC): 47.3Sales (kt SC): 55.5Mar Q 26Production (kt SC): 54.5Sales (kt SC): 34Jun Q 26
Production (kt SC)Sales (kt SC)Realised price (US$/t) (US$, right axis)Unit cost (≈ US$)
Jun Q 26Mar Q 26Dec Q 25Sep Q 25Jun Q 25Mar Q 25
Production (kt SC)54.547.344.25258.543.3
Sales (kt SC)3455.566266727
Implied inventory change (prod − sales)+20.5−8.2−21.9+26−8.4+16.2
Unit cost (USD/t)907884812818791830
Realised price (US$/t)$921$1,453$998$784$682$710
Implied cash margin (US$/t)+$14 2%+$569 39%+$186 19%−$34 -4%−$109 -16%−$120 -17%

Production minus sales in the same unit: positive = stockpile built at the mine or port, negative = drawn down. Margin = realised price − unit cost converted at fixed FX. Bases can differ (price often CIF and SC6-equivalent, cost FOB per t of the actual grade, before royalties), so treat it as indicative.

Resource and mine life

As of 24 Oct 2026
Resource
2.65 Mt LCE
Reserve
1.31 Mt LCE
Grade
1.15% Li2O
Mine life
20 years
As of
30 Jun 2026

Unit cost

Basis
FOB Port of Québec per dmt sold, excl. D&A, freight and royalties (FY26 actual; FY27 guidance US$880–950/dmt sold at SC5.2)
Period
FY26

Cost bridge to US$/t LCE

Reported unit cost
USD 853/t SC5.0
× t concentrate per t LCE
× 8.99 (5.0% Li₂O, 90% recovery)
Mine cost per t LCE
$7,666/t LCE
+ Conversion to chemicals (assumption)
$3,500 · China Merchant Toll
Landed cost
$11,166/t LCE
Cost-curve quartile Q4 of 14 operations with a cost

The conversion, freight and royalty settings are shared with the cost curve on the map page (Economics).

Position on the cost curve

Landed US$/t LCE, same assumptions as the cost curve · As of 24 Oct 2026
Hombre Muerto West (HMW): $3,963/t LCEQarhan Salt Lake: $4,292/t LCE (implied)Cauchari-Olaroz: $5,897/t LCEYichun lepidolite belt: $6,012/t LCE (implied)Greenbushes: $6,201/t LCEPilgangoora: $7,330/t LCEMibra: $7,416/t LCEWodgina: $7,489/t LCEFinniss: $7,913/t LCEZabuye Salt Lake: $8,265/t LCE (implied)Mt Marion: $9,166/t LCEGrota do Cirilo: $9,503/t LCEKathleen Valley: $10,203/t LCENorth American Lithium: $11,166/t LCE$11,1660

$11,166/t LCE · cheaper than about 0% of costed supply

Grey: every producing mine with a cost (width = capacity). Highlighted: this asset. Lighter dashed bars are implied costs (no reported unit cost).

Milestones

As of 24 Oct 2026

Upcoming (4)

  • 27 Oct 2026Sep Q 2026 quarterly activities reportReport · source
  • 1 Jul 2027NAL Expansion Stage 1: plant throughput to permitted 4,500 tpd (+15–20% concentrate)Expansion · source
  • H2 2028NAL Expansion Stage 2: milling capacity to 6,500 tpd (mid-CY28)Expansion · source
  • H2 2029NAL Expansion Stage 3: new crushing circuit, 373 ktpa post-expansion profile (mid-CY29)Expansion · source

Completed (3)

  • 29 Jun 2026NAL Expansion groundbreaking; key equipment orderedExpansion · source
  • May 2026Strategic Financing Package: US$196M placement + US$102M Canada Growth Fund convertible notes to fully fund NAL ExpansionFinancing · source
  • 30 Aug 2025Sayona–Piedmont merger completed; Elevra Lithium formed (NAL 100% owned)Other · source

Offtakes and supply chain

As of 24 Oct 2026

Sells to

  • LG Energy SolutionSpodumene concentrate · 240 kt dmt base (30 kt 2026, 60 kt 2027, 60 kt 2028, 90 kt 2029) + up to 90 kt optional · 3 years from first shipment (expected CY2026); market-linked pricing · source
  • Mangrove LithiumSpodumene concentrate (SC6-equivalent basis) · 122 kt dmt in Year 1, 144 kt dmt/yr from Year 2 (take-or-pay) · 7 years + 7-year renewal; conditional on Mangrove financing, FID by 31 Dec 2028 and commercial operation · planned · source

Country risk · Canada

Policy risk: Low As of 24 Oct 2026

Change history

Approved changes with their source · As of 24 Oct 2026
DateFieldChangeSource
24 Oct 2026Quarterly figuresnew: Jun Q 2026 · production 54.479 kt SC · sales 33.977 kt SC · cost USD 907 (FOB Port of Québec per dmt sold, excl. D&A, freight and royalties)Elevra Lithium June 2026 Quarterly Activities Report (ASX, 28 July 2026)
24 Oct 2026Quarterly figuresnew: Sep Q 2025 · production 52.003 kt SC · sales 25.975 kt SC · cost USD 818 (FOB Port of Québec per dmt sold, excl. D&A, freight and royalties (A$1,250/dmt a)Elevra Lithium September 2025 Quarterly Activities Report (ASX, 29 October 2025)
24 Oct 2026Quarterly figuresnew: Dec Q 2025 · production 44.154 kt SC · sales 66.016 kt SC · cost USD 812 (FOB Port of Québec per dmt sold, excl. D&A, freight and royalties)Elevra Lithium December 2025 Quarterly Activities Report (ASX, 28 January 2026)
24 Oct 2026Quarterly figuresnew: Mar Q 2026 · production 47.332 kt SC · sales 55.526 kt SC · cost USD 884 (FOB Port of Québec per dmt sold, excl. D&A, freight and royalties)Elevra Lithium March 2026 Quarterly Activities Report (ASX, 23 April 2026)
24 Oct 2026Realised pricenew: Spodumene US$784/dmt · Sep Q 2025 · ~5.2% Li2O concentrate, FOB Port of Québec, per dmt soldElevra Lithium September 2025 Quarterly Activities Report (ASX, 29 October 2025)
24 Oct 2026Milestonenew: 29 Jun 2026 · NAL Expansion groundbreaking; key equipment ordered Expansion CompletedElevra Lithium June 2026 Quarterly Activities Report (ASX, 28 July 2026)
24 Oct 2026Milestonenew: 30 Aug 2025 · Sayona–Piedmont merger completed; Elevra Lithium formed (NAL 100% owned) Other CompletedElevra Lithium September 2025 Quarterly Activities Report (ASX, 29 October 2025)
24 Oct 2026Realised pricenew: Spodumene US$921/dmt · Jun Q 2026 · ~5.0% Li2O concentrate, FOB Port of Québec, per dmt sold; all tonnes under legacy contract with lagged hydroxide-linked pricingElevra Lithium June 2026 Quarterly Activities Report (ASX, 28 July 2026)

Report an error