Elevra Lithium Reports Record Revenue Despite Production Dips in December 2025
Elevra Lithium Limited has reported strong results for North American Lithium (NAL) in the December 2025 quarter. The company achieved record revenue and a second consecutive gross profit since restarting operations. Despite some production challenges, key improvements in safety, sales, and plant efficiency were noted.
NAL mined 389,801 wet metric tonnes (wmt) of ore during the quarter, marking a 15% increase from the previous period. However, spodumene concentrate production fell by 15% to 44,154 dry metric tonnes (dmt), with an average grade of 4.9%. Lithium recovery also dropped to 62%, down 7% due to changes in pit development sequencing.
The process plant operated at 89% utilisation, a 2% improvement quarter-on-quarter. Sales reached 66,016 dmt of spodumene, in line with earlier guidance to focus on the December quarter. The average selling price rose by 27% to US$998 per dmt, boosting revenue. NAL recorded its second-best safety performance since operations resumed in 2023. Unit operating costs stood at US$812 per dmt, contributing to a second consecutive quarterly gross profit. By the end of December 2025, Elevra held US$81 million in cash.
NAL's December 2025 quarter saw higher ore mining, improved plant efficiency, and stronger sales pricing. While production and recovery rates declined, the company maintained profitability and safety progress. The results reflect ongoing adjustments as operations continue to stabilise.
