HIGHLIGHTS
- Sigma Lithium maintains the operational consistency of a
seasoned producer, shipping its 12th vessel of Quintuple
Zero Green Lithium to Mitsubishi.
- This is Sigma Lithium's second sale to Mitsubishi, a large
industrial and trading conglomerate ("keiretsu")
headquartered in Japan.
- Sigma Lithium remains on track to deliver its 3Q production
target of 60,000 tonnes of Quintuple Zero Green Lithium.
- Sigma Lithium has appointed Rogerio
Marchini as Executive Vice President of Corporate Finance
and Chief Financial Officer, bolstering the Company's finance
team.
SÃO PAULO, Brazil, Sept. 16,
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 that it is shipping 22,000t of Quintuple Zero Green
Lithium to Mitsubishi this week, maintaining its consistent
operational cadence in the third quarter with near-monthly
shipments.
Commercial
The price of the Quintuple Zero Green Lithium for this
12th shipment is initially set at a provisional premium
floating price equivalent to 8.25% of Lithium Hydroxide quoted at
LME (CIF Shanghai basis).
The achievement of near-monthly production cadence increases
commercial flexibility, allowing the Company to further its
diversification strategy, selling into leading global battery
supply chains.
- Sigma Lithium plans to further diversify its commercial
strategy in the fourth quarter with additional commercial
partnerships in different geographies.
- The Company's commercial success is enabled by the
metallurgical properties as well as the quantifiable environmental
sustainability and social traceability of its Quintuple Zero Green
Lithium.
Rogerio Marchini Appointed Executive Vice President of
Corporate Finance and CFO
Sigma Lithium is also pleased to announce the appointment
of Rogerio Marchini to its senior leadership, as the new
Executive Vice President of Corporate Finance and Chief Financial
Officer ("CFO"). Rogerio is a prominent executive in
Brazil, with a deep experience of
24+ years in finance. For the last 7 years Rogerio was the CFO of
Origo, a private equity portfolio company of TPG International in
the energy transition space. Here, he led the 40-person team
through business transformation from start-up to final
monetization. Rogerio also served as Director of Finance at Embraer
where he worked for 13 years (the leading regional aircraft
manufacturer and exporter).
Rogerio will be supported by the current high caliber team of
finance executives, including Caio
Araujo, who remains at the Company as a Director of the
Controller's Office and Felipe
Peres, who led Sigma Lithium to its Nasdaq listing and was
on medical leave in 2023, having returned to the Company as
Director of Site Administration and Finance. Felipe will also be
leading procurement and controls for the construction of the Phase
2 expansion of the Greentech Lithium Processing Plant, which will
double Company capacity to 520,000t of Quintuple Zero Green Lithium
(equivalent to approximately 80,000t of LCE).
CEO and Co-Chairperson Ana Cabral notes: "We are very
pleased with our commercial partnership and deepening relationship
with Mitsubishi. Mitsubishi's market visibility, as a Japanese
industrial conglomerate keiretsu (carmaker, commercial bank,
trading) has helped Sigma Lithium successfully navigate the
pronounced seasonality of demand and price swings displayed by the
lithium market this summer," she concluded.
"We are also delighted to welcome Rogerio Marchini to
our senior leadership. Rogerio is a tremendous addition to our
finance team, a seasoned Brazilian executive with significant
experience in comparable companies encompassing key aspects of our
business: energy transition and global exporting. In a testament to
our culture of excellence and teamwork, Rogerio will be supported
by two former Sigma Lithium CFOs who have been deployed to lead
critical areas within the finance department. Rogerio's appointment
further bolsters the strength of our finance team."
Qualified Persons Disclaim
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.
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. Here, Sigma produces Quintuple Zero
Green Lithium at its state-of-the-art Greentech lithium
beneficiation plant that delivers net zero carbon lithium, produced
with zero dirty power, 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 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