Sigma Lithium Corp (TSX-V:SGML, OTCQB:SGMLF, NASDAQ:SGML) said it has begun construction on site to build the foundation and infrastructure installation of a greentech dense media separation production plant at its wholly-owned Grota do Cirilo lithium project in Brazil.
The company noted that it is on track to begin production at Grota do Cirilo in the fourth quarter of 2022 and it has the funds to meet the equity funding requirements under its proposed construction debt facility.
“By advancing the Phase 1 construction schedule as planned, Sigma Lithium is in a position to potentially deliver large quantities of battery-grade green and sustainable lithium at a critical supply juncture for the lithium market and the battery industry,” Sigma Lithium co-CEO Ana Cabral-Gardner said in a statement.
READ: Sigma Lithium says it’s on track to begin commercial production at its Grota do Cirilo project in Brazil in 2022
“Customer demand has been beyond the quantities that are planned to be produced by Phase 1, as indicated by the binding term-sheet with LG Energy Solution as well as by our agreement with Mitsui ,” Cabral-Gardner added.
Sigma Lithium said completion of the initial stage of the construction civil works is expected within three months.
The company added that Phase 1 of the production plant has been designed to produce up to 220,000 tonnes per annum of high purity 6% battery grade lithium concentrate, equal to about 33,000 tonnes per year of lithium carbonate equivalent (LCE).
As well, Sigma Lithium announced that it has completed a preliminary economic assessment (PEA) and is currently conducting a preliminary feasibility study (PFS) for a prospective second production phase contemplating the addition of a processing line with similar capacity to Phase 1, with a further 220,000 tonnes per year of Battery Grade Green and Sustainable Lithium.
If warranted and validated by the ongoing feasibility study, the company said it could potentially double the project total capacity of Battery Grade Green and Sustainable Lithium to 440,000 tonnes per year (66,000 tonnes per year of LCE).
The PFS is expected to be completed in the first quarter of 2022.
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