The Conversation (0)
Today, we are the largest operating hard-rock lithium producer in North America and we have the right assets to become a global leader.
We assembled a Board to support that ambition, bringing operational and financial experience, and deep knowledge of the lithium sector. The Elevra Board reflects the combined strengths of both companies to ensure continuity and to provide a new perspective.
Our management team also represents a combination of Piedmont and Sayona. This group brings together complementary capabilities and experience across project development, mining operations, commercial strategy, sustainability, corporate governance and commercial markets.
Most importantly, the Board and management team share the common goal of building a resilient lithium business that creates long-term value for you, our shareholders.
Now to touch on some of our key achievements.
Operationally, we delivered a strong performance at North American Lithium with record production.
We set out targets for financial year 2025 for production, sales, unit operating costs, and capital and exploration expenditure and I'm pleased to report that we delivered within the expected range for every metric and saw a 31% increase in tonnes produced with a 9% reduction in unit operating costs.
Importantly, we also made significant strides in improving our safety and sustainability performance. The well-being of our employees, the communities where we operate, and the environment are critical to the success of our business.
For the year, we set ambitious safety goals for a reduction in our Total Recordable Injury Frequency Rate and safety compliance. We performed well against these goals and look to build upon that success going forward.
We also recorded a 14% reduction in CO2 equivalent emissions for the year despite the 31% increase in tonnes produced. When comparing to 2024, this means we saw a 33% decrease in emissions per ton of LCE produced.
We've made considerable investments into process improvements at NAL and the result is that we have a solid foundation to build upon as we continue to optimise production and advance our growth plans.
On the merger, we were proud to see the transaction receive overwhelming support from the shareholders of both Sayona and Piedmont.
Our mission was to create a North American lithium champion and our focus has turned from planning to execution.
As a Board, we looked at the merger as an opportunity to review our governance practices and take specific actions to improve. We've implemented many changes, but I would like to focus on a couple of the most notable.
First, we had a major refresh of the Board and placed an emphasis on increasing the percentage of independent directors and improving gender diversity and representation with the appointment of a female Chair. The Board currently stands at eight (8) members with a majority being independent, including myself as the Chair.
We have a succession plan to reduce the size of the Board to six (6) directors while maintaining a minimum of four (4) independent directors.
On remuneration, we refined the scorecard used to measure performance to ensure that outcomes were measurable and increasingly tied to the operational and financial success of the business, which should also align with increased shareholder value. Remuneration is now fully performance-based, independently benchmarked and transparently disclosed.
We've also transitioned to a more mature company where our governance framework is fully aligned with ASX Principles.
While I'm pleased with the progress we have made, there is still work to be done.
One specific area is sustainability. We've embedded sustainability metrics into our remuneration framework and we are seeing success, but our focus on sustainability and reporting remains a priority.
In 2026, we plan to stand up an ESG Committee and report under Towards Sustainable Mining and International Financial Reporting Standards frameworks.
As we look ahead, the opportunity in front of Elevra is significant. The world needs more reliable, sustainable sources of lithium, and our assets, team, and strategy place us in a strong position to meet that challenge.
Dawne Hickton, the Chair of Elevra Lithium Limited
*To view the AGM Presentation, please visit:
https://abnnewswire.net/lnk/4U0BYEI0
About Elevra Lithium Limited:
Elevra Lithium Limited is a North American lithium producer (ASX:ELV) (NASDAQ:ELVR) OTCMKTS:SYAXF) with projects in Quebec, Canada, United States, Ghana and Western Australia. In Quebec, Elevra's assets comprise North American Lithium (100%) and a 60% stake in the Moblan Lithium Project in Northern Quebec. In the United States, Elevra has the Carolina Lithium project (100%) and in Ghana the Ewoyaa Lithium project (22.5%) in joint venture with Atlantic Lithium. In Western Australia, the Company holds a large tenement portfolio in the Pilbara region prospective for gold and lithium.
Source:
Elevra Lithium Limited
Contact:
Andrew Barber
Investor Relations
PH: +61 7 3369 7058
