HIGHLIGHTS
- Sigma Lithium demonstrates the consistent operational
cadence of a seasoned producer completing its first year of
production with the 11th shipment of 22,000t of
Quintuple Zero Green Lithium loaded at the Port.
- By achieving this cadence of shipments, the Company
concluded the fastest ramp-up in the lithium industry amongst
current producers, and one of the fastest in the base metals
industry.
- The Company reached on Aug. 9 another operational
milestone of a seasoned producer, achieving 365 consecutive days
with no fatalities and zero accidents with loss of workdays amongst
its 618 employees.
- As a result, the Company was catapulted to the equivalent of
second place in the ICMM (International council on Mining
and Metals) combined safety rankings.
SÃO PAULO, Aug. 13,
2024 /PRNewswire/ -- 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 concluded one year of consistent
operational shipping cadence by completing the trucking to the Port
of its eleventh delivery of 22,000t of Quintuple Zero Lithium to be
shipped this week.
The price is initially set at a premium floating price of 8.75%
of LME Lithium Hydroxide quoted at LME (CIF Shanghai basis).
On Aug. 9, the Company also
completed 365 consecutive days with zero fatalities and zero
accidents with loss of workdays amongst its 618 employees. This
impeccable operational track-record caps a first year of intense
focus on worker safety and health, creating a culture of safety and
operational efficiency inspired by the case study of Alcoa "safety
habits of excellence" under Paul
O'Neill. [LINK HERE]
Sigma Lithium achieved a level of operational maturity toward
employee safety consistent with the large metals and mining
companies at ICMM (International Council on Mining and
Metals) in just its first year of operation. The Company was
catapulted to the equivalent of second place in the ICMM combined
TRIFR and FFR health and safety rankings: its TRIFR (Total
Recordable Injuries Frequency Rate) was 1.25 and FFR
(Fatalities Frequency Rate) was Zero.
This represents a remarkable operational improvement from the
Company's previous index of 75 days without accidents with loss of
workdays, back in August 2023.
- The Company was able to improve its safety record with
personnel on site even as it became a producer demonstrating its
ability to manage safely the increased staff of a total of 1,510
personnel deployed.
CEO and Co-Chairperson Ana Cabral
notes: "We are pleased to be able to mark our one-year
anniversary of shipments with this double milestone in a further
testament to how far the Company has come over the last 12 months.
Our employees are an integral part of our operational excellence,
driving this remarkable health & safety achievement of 365 days
without any accidents with lost workdays. Fostering a culture of
health & safety excellence amongst our employees helped create
a level of focus on efficiency that underpins our focus on margins
and our ability to withstand the ebbs and flows of lithium price
cycles."
Qualified Persons Disclaimer
Other disclosures in this
news release of a scientific or technical nature at the Grota do
Cirilo Project have been reviewed and approved by Iran Zan AusimM
(Membership number FAusIMM (329132)), who is considered, by virtue
of his education, experience and professional association, a
Qualified Person under the terms of NI 43-101. Mr. Zan is not
considered independent under NI 43-101 as he is Sigma Lithium
co-Head of Geology and co-General Manager of Sigma Lithium. Mr. Zan
has verified the technical data disclosed in this news release not
related to the current Mineral Resource estimate disclosed
herein.
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
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 Corporation
