Elevra Lithium Limited (ELVR) Breaks Ground on Fully Funded North American Lithium Expansion
North American lithium producer Elevra Lithium Limited (ASX:ELV) (NASDAQ:ELVR) (OTCMKTS:SYAXF) announces that it has reached a milestone in the expansion of its North American Lithium ("NAL") operation with the official groundbreaking of the NAL Expansion Project.
The groundbreaking follows the successful completion of Elevra's May 2026 capital raise, which fully funded the NAL Expansion and strengthened the Company's balance sheet to support execution of its staged growth strategy. The groundbreaking was attended by members of the Elevra Board of Directors, senior management, and project leadership.
As part of ongoing project execution, equipment for the expansion has been ordered to enable the planned development timeline and reduce schedule risk.
Upon completion in mid-CY27, Stage 1 of the NAL Expansion is expected to deliver a 15-20% increase in annual spodumene concentrate production capacity and a reduction in unit operating costs through improved scale and efficiency. As North America seeks to strengthen domestic battery materials supply to reduce reliance on external sources, the NAL expansion will deliver increased supply of traceable and transparent lithium to the rapidly growing electric vehicle and energy storage markets.
Elevra's Managing Director and Chief Executive Officer, Mr. Lucas Dow, said: "The groundbreaking of the NAL Expansion marks a milestone for Elevra and reflects the progress we have made since announcing our staged expansion strategy. With funding secured and equipment orders being placed, we are focused on disciplined execution to deliver Stage 1. This expansion will increase production capacity and further strengthen NAL's position as a strategically important source of lithium supply in North America."
Andrew Barber Investor Relations PH: +61 7 3369 7058
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