Piedmont Lithium and Sayona Mining Announce New Company Name and Board Nominees for Upcoming Merger
Piedmont Lithium Inc. (“Piedmont” or “the Company”), a prominent U.S.-based supplier of lithium products essential to the electric vehicle (EV) industry, has provided an important update on its proposed merger with Sayona Mining Limited (“Sayona”), an Australian lithium company. The merger, initially announced on November 19, 2024, aims to combine the strengths of both companies to establish a dominant player in the global lithium market.
Formation of Elevra Lithium
Following the completion of the merger, which remains subject to shareholder approval and customary regulatory clearances, the unified company will be known as Elevra Lithium. This name was selected to represent a new chapter for both organizations, signifying growth, innovation, and leadership in the battery minerals industry. The full branding details, including the logo and brand identity, are expected to be shared closer to the transaction’s anticipated closing in mid-2025.
The combined entity is poised to emerge as a formidable lithium producer with a strong presence across North America and Australia, addressing growing demand driven by the global transition toward electrification and cleaner energy technologies.
Board Structure and Governance
As part of the integration planning, Piedmont and Sayona have agreed on the composition of the future Elevra Lithium Board of Directors, which will be equally representative of both companies. The new Board will consist of eight members—four nominated by Piedmont and four by Sayona. This balanced approach reflects the shared governance model the companies have embraced to ensure continuity and collaboration during and after the transition.
The announced Board of Directors includes:
Piedmont Lithium Nominees:
- Dawne Hickton – Chair-designate of Elevra Lithium; recognized for her corporate leadership in the industrial and energy sectors.
- Christina Alvord – Experienced executive with a strong background in operations and business strategy.
- Jeff Armstrong – Former Chair of Piedmont’s Board and seasoned advisor on business development and finance.
- Jorge M. Beristain – Financial expert with deep industry knowledge in commodities and mining.
Sayona Mining Nominees:
- Lucas Dow – Current Managing Director and CEO of Sayona, who will retain his executive leadership role in the new company.
- James Brown – Accomplished mining professional with a strong operational background.
- Allan Buckler – Veteran in the mining sector, particularly in project development and execution.
- Laurie Lefcourt – Strategic leader with experience in natural resources and governance.
This carefully selected group brings a diverse mix of expertise spanning mining operations, financial oversight, sustainability, and corporate governance—key areas of focus for the combined company as it scales operations and expands its market presence.
Leadership Transitions and Acknowledgments
Several notable changes in leadership will also occur upon completion of the merger. Keith Phillips, currently CEO and Director of Piedmont Lithium, will retire from both roles but continue to serve as a Strategic Advisor to Elevra Lithium for a defined transition period. His advisory role will support continuity in leadership and facilitate a smooth integration between the two businesses.
Additionally, Michael Bless and Claude Demby from Piedmont’s Board, along with Paul Crawford and Philip Lucas from Sayona’s Board, will step down at the close of the transaction and will not be part of the Elevra Lithium Board. Their collective service to their respective organizations is recognized and appreciated, especially during a transformative period in the lithium sector.
Chair-designate Dawne Hickton expressed her gratitude and enthusiasm for the journey ahead. “I am honored to have been selected as Chair-designate for Elevra Lithium. This is a pivotal moment for both Piedmont and Sayona. The merger represents a fusion of talent, assets, and strategy that positions us to become a leader in the lithium industry globally. I look forward to collaborating with this outstanding group of directors to shape a clear vision and execute our growth plans.”
She added special thanks to outgoing leaders, stating, “I want to sincerely thank Michael Bless and Claude Demby for their invaluable contributions to Piedmont, and Keith Phillips for his tireless dedication and visionary leadership over the past eight years. His role in positioning Piedmont as a cornerstone of the U.S. EV supply chain has been nothing short of remarkable. I also want to acknowledge Jeff Armstrong’s steady hand as Chair of the Board and look forward to continuing to work with him in his new role as a non-executive Director of Elevra Lithium.”
Keith Phillips echoed similar sentiments. “We are working closely with our partners at Sayona to plan a smooth integration process. I am proud of what we’ve built at Piedmont and confident that Elevra Lithium will take that foundation even further. The Board we’ve assembled is a testament to our commitment to operational excellence, strong governance, and shareholder value. Dawne Hickton’s leadership as Chair will be instrumental in guiding this company forward.”
Path to Completion
The merger is currently on track to be finalized in mid-2025, pending approval by shareholders of both Piedmont and Sayona, regulatory bodies, and satisfaction of other standard closing conditions. A formal disclosure document outlining the details and implications of the transaction will be delivered to Piedmont shareholders and filed with the U.S. Securities and Exchange Commission (SEC). This filing is expected in the first half of 2025 and will provide further transparency into the structure, benefits, and strategic vision of the merger.
The transaction is expected to deliver numerous benefits to stakeholders, including:
- Expanded lithium resource base: Combining Sayona’s assets in Australia and Piedmont’s projects in the United States creates a geographically diversified and resource-rich company.
- Streamlined operations and synergies: Shared infrastructure, aligned operational practices, and integrated leadership will allow Elevra Lithium to improve efficiency and reduce costs.
- Strengthened market position: With increasing demand for lithium driven by electric vehicles, renewable energy storage, and digital technologies, Elevra Lithium will be well-positioned to serve global markets.
- Stronger capital markets profile: The merger enhances visibility with investors and institutions, supporting future capital raises and long-term value creation.
Strategic Outlook for Elevra Lithium
Once established, Elevra Lithium will operate as a fully integrated lithium producer with a strong commitment to sustainability, supply chain transparency, and community engagement. The new company intends to play a key role in accelerating the clean energy transition by supporting battery manufacturers, automakers, and technology companies with a reliable supply of responsibly sourced lithium.
As the lithium market continues to evolve, Elevra Lithium plans to invest in exploration, processing technology, and customer partnerships to maintain competitive advantage. The newly appointed Board will be instrumental in ensuring that environmental, social, and governance (ESG) principles are embedded across the business.
