SÃO PAULO, Dec. 23, 2024 /CNW/ -- Sigma Lithium Corporation (TSXV/NASDAQ: SGML, BVMF: S2GM34) ("Sigma Lithium" or the "Company"), a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon-neutral, socially and environmentally sustainable lithium concentrate, is pleased to announce that it is currently loading 22,650 tonnes of its Quintuple Zero Green Lithium for shipment from the Port of Vitoria to IRH Global Trading LTD in Abu Dhabi (IRH), reflecting the Company's continued operational excellence.
Sigma Lithium Logo (PRNewsfoto/Sigma Lithium Corporation)
Sigma Lithium has achieved a consistent monthly delivery schedule for large-scale shipments, having successfully met its target of producing Quintuple Zero Green Lithium at an annual rate of 270,000 tonnes. The execution of two large shipments within a short timeframe this quarter is a testament to the exceptional work of the Company's operational, commercial and logistics teams. The provisional price (6% Li2O, CIF China) for this shipment is set at 8.25% of the battery-grade lithium carbonate price quoted on the Guangzhou Futures Exchange (GFEX) as of the shipment date.
"We are incredibly proud of the operational milestones our team has achieved in transforming Sigma Lithium into a major lithium producer in 2024," said Ana Cabral, CEO and co-Chairperson of Sigma Lithium. "We have researched and advanced dense media separation technology for lithium oxide concentrate, taking it to a unique level of production efficiency, reaching 70% of recovery at our Greentech Industrial Plant, while dry stacking 100% of the tailings, and reusing the water. Final enhancements to the processing flowsheet were implemented last month, increasing production significantly and enabling us to deliver in cadence two large monthly shipments for November production and now this one, which is part of December production. This is a significant achievement. Looking ahead to 2025, we are very excited about the future, with our team building a second Greentech Industrial Plant, that will double our production capacity and revenues while increasing our margins with the resulting economies of scale."
ABOUT SIGMA LITHIUM Sigma Lithium (TSXV/NASDAQ: SGML, BVMF: S2GM34) is a leading global lithium producer dedicated to powering the next generation of electric vehicle batteries with carbon-neutral, socially and environmentally sustainable chemical-grade lithium concentrate.
Sigma Lithium is one of the world's largest lithium producers. The Company operates at the forefront of environmental and social sustainability in the electric vehicle battery materials supply chain at its Grota do Cirilo Operation in Brazil. Here, Sigma produces Quintuple Zero Green Lithium at its state-of-the-art Greentech lithium beneficiation plant, delivering net zero carbon lithium, produced with zero carbon intensive energy, zero potable water, zero toxic chemicals and zero tailings dams.
Phase 1 of the Company's operations entered commercial production in the second quarter of 2023. The Company has issued a Final Investment Decision, formally approving construction to double capacity to 520,000 tonnes of lithium concentrate through the addition of a Phase 2 expansion of its Greentech Plant.
This news release includes certain "forward-looking information" under applicable Canadian and U.S. securities legislation, including but not limited to statements relating to timing and costs related to the general business and operational outlook of the Company, the environmental footprint of tailings and positive ecosystem impact relating thereto, donation and upcycling of tailings, timing and quantities relating to tailings and Green Lithium, achievements and projections relating to the Zero Tailings strategy, achievement of ramp-up volumes, production estimates and the operational status of the Groto do Cirilo Project, and other forward-looking information. All statements that address future plans, activities, events, estimates, expectations or developments that the Company believes, expects or anticipates will or may occur is forward-looking information, including statements regarding the potential development of mineral resources and mineral reserves which may or may not occur. Forward-looking information contained herein is based on certain assumptions regarding, among other things: general economic and political conditions; the stable and supportive legislative, regulatory and community environment in Brazil; demand for lithium, including that such demand is supported by growth in the electric vehicle market; the Company's market position and future financial and operating performance; the Company's estimates of mineral resources and mineral reserves, including whether mineral resources will ever be developed into mineral reserves; and the Company's ability to operate its mineral projects including that the Company will not experience any materials or equipment shortages, any labour or service provider outages or delays or any technical issues. Although management believes that the assumptions and expectations reflected in the forward-looking information are reasonable, there can be no assurance that these assumptions and expectations will prove to be correct. Forward-looking information inherently involves and is subject to risks and uncertainties, including but not limited to that the market prices for lithium may not remain at current levels; and the market for electric vehicles and other large format batteries currently has limited market share and no assurances can be given for the rate at which this market will develop, if at all, which could affect the success of the Company and its ability to develop lithium operations. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether because of new information, future events or otherwise, except as required by law. For more information on the risks, uncertainties and assumptions that could cause our actual results to differ from current expectations, please refer to the current annual information form of the Company and other public filings available under the Company's profile at www.sedar.com.
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