Ganfeng Lithium Group Completes Share and Bond Offerings, Bolstering China's Lithium Mining and Processing Industry.

Ganfeng Lithium Group has completed a share and bond issue, with the company specializing in lithium product manufacturing and marketing. Net sales are mainly from lithium mining and processing (81.3%), followed by lithium battery production (18.2%), and other activities (0.5%). China accounts for 77.8% of net sales.

Piedmont Lithium Inc. (PLL) has successfully completed its merger with Sayona Mining Limited, forming a new company named Elevra Lithium. This strategic move aims to strengthen Piedmont Lithium's position in the lithium market, particularly for electric vehicle (EV) and stationary energy storage applications.

The merger, announced on Nov. 19, 2024, combines the complementary businesses of Piedmont Lithium and Sayona. Elevra Lithium will now operate as one of the largest hard-rock lithium platforms, with three high-quality development projects and the potential for brownfield expansion at North American Lithium (NAL). NAL, one of the world's few active hard rock spodumene operations, is expected to produce 226,000 metric tons of spodumene concentrate annually.

The merger is anticipated to create a more streamlined and efficient lithium business, with lower capital intensity and reduced operating costs. Synergies from optimized logistics and procurement, as well as expanded customer relationships, are expected to drive these efficiencies. The deal was approved by the shareholders of both companies.

Elevra Lithium is well-positioned to meet the growing demand for lithium resources in the global energy transition. The company's global portfolio of development projects and established position as a leading lithium supplier make it a strong contender in the market.

PLL shares have experienced a 12% decline in the past year, compared to the industry's 15.5% growth. Despite this, the company carries a Zacks Rank #2 (Buy), indicating a favorable outlook for investors. Other top-ranked stocks in the basic materials sector include Agnico Eagle Mines (AEM), Idaho Strategic Resources (IDR), and Carpenter Technology Corporation (CRS), all of which have shown strong performance in recent years [1].

References:
[1] https://www.nasdaq.com/articles/pll-closes-merger-deal-sayona-form-leading-lithium-producer