Elevra Lithium Triggers Strategy Shift After Piedmont-Sayona Fusion

Elevra Lithium is pursuing a strategic reset following the August 2025 merger between Piedmont Lithium and Sayona Mining. The combined entity aims to build one of North America’s largest hard rock lithium platforms to meet the growing demand from the electric-vehicle sector. The key question now is how the flagship growth projects will unfold.

• Merger completed in August 2025
• Awaiting approvals for Carolina Lithium (USA)
• Financial dispute over the Ewoyaa project (Ghana) since last September

Carolina Lithium remains a central pillar of Elevra’s growth blueprint in the United States. Although the state’s mining permit has been in place since April 2024, execution has stalled. The company is currently awaiting a necessary land rezoning decision from Gaston County authorities. Beyond environmental considerations, the project’s trajectory depends heavily on constructive engagement with the local community, which will shape the timeline moving forward.

Potential Dispute in Ghana

The Ewoyaa project in Ghana faces a more complex set of challenges. Since last September, a financial disagreement with partner Atlantic Lithium has clouded progress. At the heart of the matter is a proposed investment of $70 million for a 50% stake in the mine’s construction.

Should investors sell immediately? Or is it worth buying Piedmont Lithium?

Atlantic Lithium contends that existing agreements have been breached, while Elevra’s management argues that the funding conditions have not yet been satisfied. Arbitration is being considered as a potential path to resolution. In the meantime, Atlantic Lithium has secured separate financing to push the project forward.

Financial Bedrock and Outlook

Even before the merger, Elevra strengthened its liquidity by divesting a stake to Atlantic Lithium. The January 2024 transaction raised about $7.8 million without impacting the project’s off-take rights in Ghana. The portfolio is further broadened by the North American Lithium project in Quebec, reinforcing Elevra’s strategic position in the critical minerals landscape.

Investors are closely watching forthcoming quarterly reports for signs of financial stability within the merged group. The stock’s trajectory will also hinge on two pivotal developments: the Gaston County Board of Commissioners’ decision regarding the North Carolina rezoning and any settlement or clarity emerging from the Ewoyaa dispute.