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Sigma Lithium Resources: Driving one of world’s greenest large-scale lithium projects

Last updated: 02:33 09 Mar 2024 AEDT, First published: 05:25 27 Oct 2021 AEDT

Snapshot

  • Sigma Lithium expands green lithium shipment to Glencore, secures enhanced prepayment terms
  • Sigma Lithium’s latest study for Grota do Cirilo (Phase 1 and Phase 2) shows an NPV of US$5.1bn and an IRR of 589%
  • Sigma Lithium set to become one of the largest global lithium producers, analysts say
  • Sigma finishes 2023 with a final 22,000 tonne shipment of Quintuple Zero Green Lithium concentrate
Sigma Lithium Resources: Driving one of world’s greenest large-scale lithium projects

About the company

Sigma Lithium Corp is a lithium exploration and development company.

The company's lithium properties are located in the State of Minas Gerais, Brazil.

Sigma Lithium holds interests in Grota do Cirilo, Sao Jose, Santa Clara, and Genipapo projects.

How it is doing

09 Mar 2024

Sigma Lithium Corp (TSX-V:SGML, NASDAQ:SGML) announced a new 22,000-tonne shipment of Quintuple Zero Green Lithium to Glencore at the Port of Vitoria. The upcoming shipment is the seventh of its kind from the company’s Greentech industrial plant.

The plant is delivering on a monthly shipment cadence aligned with levels approaching headline capacity, according to the Brazil-focused producer.

Glencore has increased its prepayment for this shipment to 85% of its value and has enhanced payment terms to occur upon product delivery to the warehouse, Sigma noted.

The move marks a departure from previous agreements, where the company secured only 50% of the value upon loading. The prepayment reflects premium provisional pricing based on 7.5% of the lithium hydroxide price quoted at LME for Sigma Lithium's Quintuple Zero Green Lithium concentrate.

13 Feb 2024

Sigma Lithium Corp (TSX-V:SGML, NASDAQ:SGML) said it had received a Letter of Intention (LOI) from the Brazilian Development Bank (BNDES) to support the construction of its second Greentech industrial lithium plant.

BNDES will provide a project finance credit line to Sigma to help develop its Quintuple Zero green Lithium Grota do Cirilo project in Vale do Jequitinhonha in Brazil under the LOI.

07 Feb 2024

Sigma Lithium Corp (TSX-V:SGML, NASDAQ:SGML) said it had loaded its sixth shipment, comprising 22,000 tonnes of Quintuple Zero Green Lithium, from its Grota do Cirilo lithium operation in Brazil.

The shipment is part of a commercial distribution and marketing agreement with Glencore, designed to establish an eco-friendly, socially responsible, and globally sustainable lithium supply chain for electric vehicles.

Insight: Sigma Lithium’s latest study for Grota do Cirilo (Phase 1 and Phase 2) shows...

09 Jun 2022

If there’s one way to wow the market, it’s with a triple digit internal rate of return.

Some companies pull off that trick by having a small, but very high quality project.

What the brokers say

13 Dec 2022

Sigma Lithium Corp (TSX-V:SGML, NASDAQ:SGML) could become one of the four largest lithium producers globally by 2025, according to analysts at Canaccord Genuity (TSX:CF, LSE:CF).

The research house made the assertion following Sigma’s release of results from its combined Phase 2 + Phase 3 expansion at its Grota do Cirilo project, along with a US$100 million debt financing earlier this week.

The proposed expansion from 270,000 tons per annum (tpa) to 768,000 tpa SC5.5% (approximately 104,000 tons of lithium carbonate equivalent) was supported by a 63% increase in mineral reserves to 54.8 million tons grading 1.44% lithium oxide, Canaccord noted.

What management says

29 Dec 2023

Sigma Lithium CEO Ana Cabral-Gardner joined Steve Darling from Proactive announcing the company's final shipment for 2023 of Quintuple Zero Green Lithium concentrate. This marks the end of a truly transformative year for the company. Cabral-Gardner explained that the fifth shipment of sustainable lithium concentrate is en route to Glencore at the Port of Vitoria and is expected to arrive before the end of the year. Glencore has agreed to prepay 50% of the shipment's value upon completion of loading.

This prepayment reflects a provisional premium price for Sigma Lithium's unique Quintuple Zero Green Lithium concentrate. Over the past twelve months, Sigma Lithium has achieved remarkable milestones, from successfully commissioning the crushing unit in December 2022 on schedule and within budget to sustaining nameplate production levels at its Greentech lithium concentrate plant in December 2023.

These operating rates support a monthly shipment cadence of approximately 22,000 tonnes throughout 2024, equivalent to an annual output of approximately 270,000 tonnes of Quintuple Zero Green Lithium concentrate. This achievement underscores the company's significant progress and commitment to sustainable lithium production.

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