Data as of: 2026-10-04 Issued: 2026-10-04 (America/Toronto) Evidence key: CONFIRMED (primary source), REPORTED (multiple outlets), RUMORED (unverified market reporting), ANALYTICAL (inference).
Elevra Lithium Limited, the North American lithium producer formerly known as Sayona Mining, provided an update on October 1–2 on the proposed sale of its interests in the Ewoyaa Lithium Project in Ghana, detailing the approval timeline for the transaction. Elevra agreed on May 11, 2026 to sell all rights and interests in Ewoyaa, including related offtake rights, to Zhejiang Huayou Cobalt for about US$71 million in cash before fees and taxes, with closing originally expected by the end of Q1 FY27.
The update centers on the Ghanaian approval process, which remains the live gating item for the deal. Ewoyaa is one of West Africa’s most advanced lithium projects, and the transfer of control to a Chinese cobalt and battery-materials major makes host-government consent the decisive variable — a pattern seen across African critical-mineral transactions as governments assert greater control over resource ownership and processing.
Elevra is selling to refocus on North American assets, with proceeds earmarked for growth there. For Huayou, Ewoyaa adds hard-rock lithium supply to a portfolio built on cobalt refining and battery-precursor production — vertical integration from African mine to Chinese processing. The approval timeline Elevra has now laid out will set market expectations for when, not whether, that integration completes.