HIGHLIGHTS
- Sigma Lithium announces that it has commenced loading its
8th shipment, totaling 22,000 tonnes of its Quintuple Zero Green,
high purity and coarse lithium concentrate, at the Port of
Vitoria.
- The Company achieved a premium fixed price of US$ 1,333/t (13% VAT included), equivalent to
US$ 1,160/t (net of VAT) through a
negotiated, fixed, "auction-price discovery"
process.
- Sigma Lithium will continue to adapt its commercial strategy
to maximize price discovery and value creation for its April 2024 production, to be shipped in early
May.
SÃO PAULO, April 15,
2024 /CNW/ -- Sigma Lithium Corporation
("Sigma Lithium" or the "Company") (NASDAQ: SGML,
BVMF: S2GM34, TSXV: SGML), a leading global lithium producer
dedicated to powering the next generation of electric vehicles with
carbon neutral, socially and environmentally sustainable lithium
concentrate, announces it has commenced the on-time loading of its
eighth shipment of quintuple zero green high-purity coarse lithium
concentrate ("Quintuple Zero High-Purity Lithium") , totaling
22,000 tonnes, at the Port of Vitoria.
The achieved price is final and non-provisional and represents a
meaningful increase over the previous premium prices achieved. As a
reference, the final price net of VAT is equivalent to 8.75% of the
LME Lithium Hydroxide CIF market price, as previously disclosed in
a news release on March 27, 2024. 85%
of the eighth shipment's value has also been prepaid.
Keith Prentice, Co-General
Manager commented: "The site team has been executing at a high
level, with the Greentech Plant delivering at the predictable
cadence of an established producer."
Catarina Noci, Commercial
Director commented: "We believe the market is now just starting
to attribute value to Sigma's superior product qualities. We can
build on the traction gained in April, with early indications
pointing to better economics for our upcoming May
shipment."
ABOUT SIGMA LITHIUM
Sigma Lithium (NASDAQ: SGML, TSXV:
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 operates at the forefront of environmental and
social sustainability in the EV battery materials supply chain and
is currently producing Quintuple Zero Green Lithium concentrate
from its Grota do Cirilo Project in Brazil. Phase 1 of the project entered
commercial production in 2Q23 and has an annual capacity of 270,000
tonnes of concentrate (36,700 LCE annually). The Company has issued
a Final Investment Decision formally approving plans to nearly
double capacity to 520,000 tonnes of concentrate through the
addition of a Phase 2 concentrate mine and associated mine. The
project produces lithium concentrate at its state-of-the-art
Greentech lithium plant that uses 100% renewable energy, 100%
recycled water and 100% dry-stacked tailings.
Please refer to the Company's National Instrument 43-101
technical report titled "Grota do Cirilo Lithium Project Araçuaí
and Itinga Regions, Minas Gerais, Brazil, Amended and Restated Technical Report"
issued March 19, 2024, which was
prepared for Sigma Lithium by Homero
Delboni Jr., MAusIMM, Promon Engenharia; Marc-Antoine Laporte, P.Geo, SGS Canada Inc;
Jarrett Quinn, P.Eng., Primero Group
Americas; Porfirio Cabaleiro
Rodriguez, (MEng), FAIG, GE21 Consultoria Mineral; and
William van Breugel, P.Eng (the
"Updated Technical Report"). The Updated Technical Report is filed
on SEDAR and is also available on the Company's website.
For more information about Sigma Lithium, visit
https://www.sigmalithiumresources.com/
Sigma Lithium
LinkedIn: Sigma Lithium
Instagram: @sigmalithium
Twitter: @SigmaLithium
FORWARD-LOOKING STATEMENTS
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.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
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SOURCE Sigma Lithium