Sigma Lithium Corp (TSX-V:SGML, NASDAQ:SGML) said it has started loading its ninth shipment of 22,000 tonnes of high-purity Quintuple Zero Green lithium concentrate at the Port of Vitoria, sold directly to LX International (LXI), formerly LG International.
The company said it had achieved a premium price calculated using a fixed-floating formula of 9% of the lithium hydroxide price quoted on the London Metal Exchange (LME).
This formula price is final and non-provisional, representing a meaningful increase from April’s price, equivalent to 8.75% of the LME lithium hydroxide price.
Sigma Lithium employed a negotiated "auction-price discovery" process to maximize transparency and achieve more equitable risk-reward distribution across the supply chain, ultimately increasing value creation for the integrated miner-processor.
Under the fixed-floating formula, the final price for the ninth shipment will depend solely on fluctuations of the LME lithium hydroxide benchmark price one month after the shipment's landing.
The company will continue driving its commercial strategy, maintaining control over allocation of its Quintuple Zero Green Lithium sales among bidders.