Sigma Lithium Corp (TSX-V:SGML, NASDAQ:SGML) is on track to produce 130,000 tonnes of chemical-grade Triple Zero Green Lithium by December, according to the company’s fiscal first-quarter update.
That would equate to an annualized production rate of 270,000 tonnes, the company said.
Sigma Lithium recently achieved 95% of nameplate throughput capacity at its Greentech Plant, which earlier this month achieved record daily production of 846 tonnes. The company also announced that it had achieved nameplate recovery rates of 65% across several consecutive days in August.
The company ended the first quarter with C$92.9 million in cash and equivalents.
Looking ahead, Sigma Lithium expects to deliver its second shipment of 15,000 tonnes of Triple Zero Green Lithium by the end of August, 30,000 tonnes of Triple Zero Green Byproducts by mid-September and 18,000 tonnes of Triple Zero Green Lithium by the end of September.
On the ESG front, Sigma Lithium announced the new "Being a Child" program. The company has pledged to help fund infrastructure improvements in the local Poco Dantes community, including renovations to its school, construction of a bridge to larger nearby towns and improvements to outdoor sports facilities.
The company has also continued its "Homecoming Employment Program” with 85% of the total employees at the project being local residents from the towns of Araçuaí and Itinga.
Additionally, Sigma Lithium has constructed 1,000 rainwater capture basins (of a 2,000 target) and donated 120 water storage tanks (of a 3,000 target) through its "Zero Drought" and "Water for All" programs.
The company’s microcredit program is also in strong shape, with 1,600 women now enrolled and 950 having completed the training. The goal is to enroll 10,000 women, according to a statement.
In personnel news, Sigma Lithium has named Caio Araujo its chief financial officer and Raphael Dias its chief controls and human resources officer.
Araujo has 33 years of experience in finance and controlling, having started his career at PricewaterhouseCoopers.
Dias brings more than 22 years of experience in finance and internal controls. He previously served as controller, vice president of Cargill Agrícola SA and controlling director of Nike do Brasil SA.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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