Sigma Lithium Corp (TSX-V:SGML, NASDAQ:SGML) has unveiled an ambitious expansion of its Tropical Forest Conservation program.
The initiative, aimed at curbing deforestation, entails the creation of a "Conservation Belt Against Deforestation" surrounding the Medio Vale do Jequitinhonha in Brazil.
Sigma’s new conservation venture involves the acquisition of land situated 250 kilometers from the company's operations.
Affiliates of the company are set to procure areas within the tropical forest/Atlantic Forest biome, effectively safeguarding them from potential deforestation for cattle pastures. The targeted region, if deforested, could exacerbate climate change impacts in the already heat-prone Medio Vale do Jequitinhonha.
By preserving approximately 350 hectares of Atlantic Forest land, in addition to the 340 hectares already conserved, Sigma Lithium aims to protect an equivalent of 7 square kilometers of tropical forest.
Separately, Sigma told shareholders that it plans to file its financial statements for the year ending December 2023 by the end of April 2024.