The merger will result in a combined miner owned 50-50 by shareholders of both companies and listed on the Nasdaq. Sayona will be the parent company, headquartered in Australia. The deal will help the firms “weather the current industry downturn,” Piedmont CEO Keith Phillips said in a press release. The combined company, if approved by regulators, will have access to projects that are further along in the permitting process, putting it in prime position to out-produce rivals like Rio Tinto. (The Logic)

Talking point: The companies emphasized their focus on North America—even as they move  to Australia instead of choosing Sayona’s Quebec headquarters or Piedmont’s in North Carolina. The duo have long partnered in Quebec, co-running a mine to supply Tesla’s battery business. Montreal will remain their third major office outside of Australia and North Carolina. Sayona plans to hold a shareholder meeting in the first half of next year to approve the deal, which could value the combined entity at about US$623 million after the merger.