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Sigma Lithium plans for 220,000t per annum production by mid-2022

Michael McCrae

Kitco News

SIGMA Lithium Resources ( TSX-V: SGMA ) said today its phase 1 production will hit 220,000t per annum (33,00 0t of LCE) of green battery grade lithium. Production is slated for the summer of 2022. The company is developing its Grota do Cirilo Project in Brazil.

Next month the company will release its phase 2 feasibility plan for production at 440,000t (65,000t LCE) per annum.

SIGMA said it is well funded.

"The Company has sufficient liquidity, with C$46.3 million in cash, as a result of its 2020 and 2021 equity financings, an amount sufficient to cover the entire equity component of the necessary project financing for construction and to finance all ongoing workstreams," wrote the company in a news release.

The company said it has plans to achieve net zero carbon emission targets by 2023.

By Michael McCrae

For Kitco News

Contact mmccrae@kitco.com
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