Sigma Lithium Corp (TSX-V:SGML, OTCQB:SGMLF, NASDAQ:SGML) has provided a corporate update for its shareholders, saying it continues to advance towards initiating commercial production at its Grota do Cirilo lithium project in Brazil in 2022.
The company has also announced that it was highlighted at various events during the recent COP-26 World Climate Summit in Glasgow for its pioneering practices in environmental sustainability and social impact in the communities where it operates at Vale do Jequitinhonha in Brazil.
“Sigma has developed this high purity and environmentally sustainable lithium material produced according with the highest global technological certification standards,” Sigma Lithium co-CEO Ana Cabral-Gardner said in a statement.
READ: Sigma Lithium kicks off production plant construction activities at its Grota do Cirilo lithium project in Brazil
“Therefore, our lithium materials will enable the production of the most advanced electric vehicle batteries globally. We are enabling the electrification of the car fleets in countries where the mobility is still heavily dependent on fossil fuels,” Cabral-Gardner added.
On November 9, 2021, Sigma Lithium reported that it had mobilized its workforce and equipment on-site for the construction of the production plant at Grota do Cirilo, which is expected to be completed within three months.
The company also noted that it expects Front-End Engineering and Design (FEED) to be finalized in the fourth quarter of this year, which is also when the final CAPEX with a Project Execution Plan is expected to be completed before Sigma Lithium’s board makes a final investment decision.
It added that it is in negotiations with two mining contractors to build and operate the company's first mine at the project.
As of November 15, 2021, Sigma Lithium held C$32.5 million in cash and equivalents, out of which about C$29.7 million has been put away in a construction savings account.
During the last nine years, Sigma Lithium has been developing the largest hard rock lithium deposits in the Americas with an environmental, social, and governance (ESG)-centric strategy, including an environmentally sustainable method designed to produce lithium concentrate with zero use of hazardous chemicals, 100% clean energy, 100% water recirculation and 100% dry stacking of tailings.
Contact Sean at sean@proactiveinvestors.com