HIGHLIGHTS
- Sigma Lithium completed the sale of its 10th
shipment of 22,000t of Quintuple Zero Green Lithium at a premium
floating price of 8.75% of LME Lithium Hydroxide (CIF Shanghai
basis).
- The Quintuple Zero Green Lithium will be shipped in early
July, capping our first 11 months of consistent shipments and
demonstrating the operational discipline of a seasoned
producer
SAO PAULO, July 1, 2024 /PRNewswire/ -- Sigma Lithium
Corporation (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, is pleased to
announce it completed the sale of its 10th shipment of
22,000t of Quintuple Zero Lithium at a premium floating price of
8.75% of LME Lithium Hydroxide quoted at LME (CIF Shanghai
basis).
The 22,000 tonne shipment is scheduled for departure in early
July, maintaining the operational cadence of delivering its
Quintuple Zero Green Lithium to customers on a reliable basis.
- On June 30, 2024, Sigma concluded
a FOB export sale at Victoria Port's warehouse for 17,200 tonnes of
Sigma's Quintuple Zero Lithium concentrate with the additional
4,800 tonnes balance for a total of 22,000 tonnes to be shipped in
early July.
Sigma Lithium continues to refine its commercial strategy for
its Quintuple Zero Lithium. The Company has experienced robust
demand for its lithium concentrate, which delivers measurable cost
savings to its customers as a result of the product's superior
physical and chemical properties.
CEO and Co-Chairperson, Ana
Cabral, notes: "Over our first 11 months of operations,
Sigma Lithium has cemented its reputation as a sustainable and
reliable producer, consistently executing large scale quasi-monthly
deliveries of our high-quality Quintuple Zero Green Chemical Grade
Coarse Lithium."
"Over these 10 shipments, we've established a solid base of
clients who enjoy measurable "value-in-use", and the 20-30% cost
savings provided by our unique product's high purity, low mica
contaminants and coarse particles (over 6.5mm). On top of that,
we're supplying our clients with the only zero carbon
lithium in the industry and not charging a penny extra for it. In
other words we're not receiving a green premium."
Sigma Lithium Commercial Director Catarina Noci
adds: "We continue to pursue a premiumization strategy for
our product, while floating our formula based on the LME lithium
hydroxide price to share the lithium pricing risk with our clients,
providing battery makers and auto makers price predictability. Our
strategy is to work with our large commercial partners to monetize
their tangible cost savings into a "high quality
premium". Our product becomes increasingly valuable to
our customers when end-users who rely on tolling agreements with
non-integrated refiners experience tighter operating
conditions."
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 is one of the world's largest lithium producers
with an annual production capacity of 270,000 tonnes of chemical
grade lithium concentrate (36,700 LCE annually). The Company
operates at the forefront of environmental and social
sustainability in the EV battery materials supply chain at its
Grota do Cirilo Operation in Brazil. The Company produces Quintuple Zero
Green Lithium at its state-of-the-art Greentech lithium plant that
delivers zero carbon lithium, produced with zero dirty power, zero
potable water, zero toxic chemicals and zero tailings' dams.
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 construction to nearly double capacity to
520,000 tonnes of concentrate through the addition of a Phase 2
expansion of its Greentech Plant.
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
X (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.
View original content to download
multimedia:https://www.prnewswire.com/news-releases/sigma-lithium-sells-22-000t-of-quintuple-zero-lithium-at-premium-price-of-8-75-lme-hydroxide-302186898.html
SOURCE Sigma Lithium Corporation
