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Sigma Lithium Corporation (NASDAQ: SGML, TSXV: SGML, BVMF: S2GM34) is a pioneering global lithium producer, dedicated to powering the next generation of electric vehicle (EV) batteries with environmentally sustainable and high-purity lithium. The company's flagship project, the Grota do Cirilo Project in Brazil, is one of the highest-grade hard rock lithium spodumene deposits in the Americas.
Sigma Lithium is committed to producing Quintuple Zero Green Lithium concentrate, which is characterized by being carbon-neutral, using 100% renewable energy, 100% recycled water, and 100% dry-stacked tailings. This commitment to sustainability extends to their operational practices, which include the expansion of the Atlantic Forest Conservation program in Brazil to create a
Sigma Lithium (SGML) has received a Triple Environmental License for its Barreiro mine, the second mine site within the Grota do Cirilo property in Brazil. The license was unanimously approved by the Chamber of Mining Activities of Minas Gerais, including all NGO members. This milestone secures long-term continuous mining operations and spodumene ore feedstock supply for the company's Greentech Industrial Complex throughout the 16-year term of the BNDES financing.
While immediate mining at Barreiro is not required for current operations, Sigma initiated environmental assessment studies in January 2021 and filed for the license in July 2022. The company has already begun social investments in 2023, funding school construction and childcare facilities in partnership with local municipalities.
Sigma Lithium announces loading of 27,500 tonnes of Quintuple Zero Green Lithium for shipment to IRH Global Trading in Abu Dhabi. The provisional price is set at 8.25% of the battery-grade lithium carbonate price on the Guangzhou Futures Exchange.
Following efficiency initiatives during November's maintenance shutdown, the company achieved continuous production of over 850 tonnes per day of lithium oxide, with peak days reaching 900 tonnes. The Greentech Industrial Plant has reached full capacity with an annualized production run rate of 270,000 tonnes, which the company expects to maintain.
Sigma Lithium (NASDAQ: SGML) reported strong Q3 2024 operational performance, producing 60,237t of Quintuple Zero Lithium Concentrate, exceeding its 60,000t guidance. The company maintained low operating costs at US$513/t CIF China and generated US$34 million in operating cash flow. Sales volumes reached 57,483t, up 9% quarter-over-quarter, with an average CIF sales price of US$820/t.
Revenue totaled US$44.2 million, or US$20.9 million net of provisional price adjustments. The company ended Q3 with US$65.6 million in cash while reducing debt by US$40 million. Sigma secured a 16-year BNDES development loan for Plant 2 expansion with favorable terms, including an interest rate of BRL 7.53%.
Sigma Lithium (NASDAQ: SGML) announced it will release its Q3 2024 financial results on November 15, 2024, before market open, followed by an investor conference call at 8:00 AM ET. The company also appointed Irina Axenova as Vice President Investor Relations, who joins from SQM where she led the investor relations team for eight years. Financial results and related materials will be available on the company's IR website, with a webcast replay accessible after the event.
Sigma Lithium announces shipment of 22,000 tonnes of Quintuple Zero Green Lithium to Abu Dhabi's International Resources Holding (IRH), marking their first transaction together. The provisional price is set at 8.25% of battery-grade lithium carbonate quoted at GFEX. The company surpassed its Q3 2024 production target, producing 60,237 tonnes, a 22% increase from Q2. The Greentech Plant achieved daily production records exceeding 860 tonnes for extended periods. This partnership demonstrates both companies' commitment to creating a low-cost, resilient global supply chain focused on traceable and ethically sourced lithium materials.
Sigma Lithium hosted its 2024 Investor Day, outlining plans to triple capacity to 125,000t LCE by end-2026. The company detailed a capital-efficient construction plan for two new industrial lines: a first expansion with 34,000t LCE capacity commissioning in 2025, and a phase 3 expansion with 54,000t LCE capacity commissioning in 2026.
Sigma expects to reach an adjusted cash EBITDA of $420mm by 2025 and nearly $700mm by 2027. The growth strategy leverages economies of scale, subsidized financing, and commitment to carbon neutrality. The Brazilian National Development Bank (BNDES) provided a subsidized financing commitment to support capital investments.
Sigma Lithium was recognized as a Climate Pioneer by Nasdaq during the United Nations Climate Week in New York. The company has achieved Net Zero targets 25 years ahead of the industry, demonstrating leadership in climate action for lithium and battery materials.
Sigma Lithium (NASDAQ: SGML) maintains operational consistency, shipping its 12th vessel of Quintuple Zero Green Lithium to Mitsubishi. This 22,000t shipment marks the company's second sale to the Japanese conglomerate. Sigma remains on track to meet its 3Q production target of 60,000 tonnes. The company has appointed Rogerio Marchini as Executive Vice President of Corporate Finance and CFO, strengthening its finance team. The price for this shipment is set at a provisional premium floating price equivalent to 8.25% of Lithium Hydroxide quoted at LME. Sigma plans to further diversify its commercial strategy in Q4 with additional partnerships in different geographies.
Sigma Lithium (NASDAQ: SGML) has received a binding commitment from BNDES for a BRL 487 million development loan to fund the construction of its Second Greentech Carbon Neutral Plant in Brazil. The loan features a 16-year repayment period at a 7.45% annual interest rate. With this expansion, Sigma expects to double its Quintuple Zero Green Lithium production capacity from 270,000 to 520,000 tonnes per year.
The company has already initiated construction activities and plans to complete the project by summer 2025. This loan is part of BNDES's strategy to support the development of a sustainable lithium supply chain in Brazil. Sigma will host an Investor Day on September 24, 2024, at Nasdaq to discuss its operations and growth initiatives.
Sigma Lithium (NASDAQ: SGML) reported strong Q2 2024 results, showcasing operational efficiency and cost reduction. Key highlights include:
- Revenue of $54.4 million from 52,572t of lithium concentrate sold
- 22% reduction in unit cash costs year-to-date, achieving 2024 guidance ahead of schedule
- CIF equivalent cash costs of $515/t, FOB cash costs of $424/t
- Robust adjusted cash EBITDA margins of 29%, up from 16% in Q1 2024
- Maintained average 10% price premium year-to-date
- Diversified commercial relationships with new South Korean and Japanese companies
- Expects Q3 2024 production of 60,000t of 5.0 Green Lithium
- Cash balance of $99 million as of August 14, 2024
The company achieved operational excellence, maintaining high cash margins of 54% (FOB Brazil) while focusing on cost discipline and increasing sales volume cadence.
Sigma Lithium (NASDAQ: SGML) has completed its first year of production, demonstrating consistent operational performance with its 11th shipment of 22,000t of Quintuple Zero Green Lithium. The company achieved the fastest ramp-up in the lithium industry among current producers. Notably, Sigma Lithium reached a significant milestone of 365 consecutive days with zero fatalities and zero accidents with lost workdays among its 618 employees. This safety record catapulted the company to the equivalent of second place in the ICMM combined safety rankings. The latest shipment is priced at a premium floating price of 8.75% of LME Lithium Hydroxide quoted at LME (CIF Shanghai basis).
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