Sigma Lithium Corp (TSX-V:SGML, NASDAQ:SGML) announced that it has received a 50% prepayment from Glencore for its third shipment of Triple Zero Green Lithium.
The shipment consisted of 20,000 tonnes of its unique, sustainable lithium.
The prepayment made by Glencore is based on a pricing mechanism that considers a premium calculated using a provisional price for lithium hydroxide set at 9% higher than the average price of lithium hydroxide at the London Metal Exchange, which takes into account prices in China, Japan, and South Korea.
The premium pricing is applied specifically to Sigma Lithium's product, the Triple Zero Green Lithium, which is unique in its characteristics or quality compared to standard lithium products.
The shipment is part of a commercial distribution and marketing agreement with Glencore, aimed at building a low carbon, environmentally and socially sustainable global lithium supply chain for electric vehicles.
Sigma Lithium's Triple Zero Green Lithium is produced at its Greentech lithium plant at its Grota do Cirilo project in Brazil, which features a series of environmental initiatives aimed at reducing the carbon footprint in the metals and mining sector. The company's environmental achievements include zero tailings with dry-stacked tailings, zero hazardous chemicals, and water efficiency through the use of 100% sewage water for its plant.
Furthermore, Sigma Lithium offsets its carbon footprint with carbon credits purchased from Carbonext, making the shipment carbon neutral.
In addition to the prepayment from Glencore, Sigma Lithium has access to trade finance green credit lines from Santander and XP Inc that can be drawn upon delivery of its Triple Zero Green Lithium to the Vitoria Port warehouses managed by Multilift.
Sigma Lithium is dedicated to producing carbon-neutral, socially and environmentally sustainable lithium concentrate for electric vehicle batteries, with the Triple Zero Green Lithium at the forefront of its efforts.