Piedmont (ASX:PLL) has invested 15.5 million to acquire 19.9 per cent of Sayona Mining and 25 per cent of Sayona Quebec.
Piedmont has also struck a binding supply agreement for 50 per cent of Sayona Quebec's planned spodumene concentrate production.
Sayona Mining is an emerging lithium miner with projects in Quebec and Western Australia.
They own the Authier lithium project and the Tansim lithium project.
Shares in Piedmont (ASX:PLL) are trading 3.2 per cent lower at $0.46.