Sigma Lithium starts construction at the largest hard rock lithium deposit in the Americas
(Kitco News) - Sigma Lithium announced today the start of construction of the production plant foundation and infrastructure at its Grota do Cirilo project in Brazil, which is the largest hard rock lithium deposit in the Americas.
According to the company's statement, Sigma starts construction activities on site for foundation, earth civil works and infrastructure installation of production plant, with equipment and 180 workers.
Sigma added it has ordered an increased number of 38 key long lead items, placing deposits to secure them and maintain the current timeline for production plant commissioning.
Importantly, the company said it is on track to begin production in the fourth quarter of 2022 and that the company has the funds to meet the equity funding requirements under its proposed construction debt facility.
The company pointed out it is developing the largest hard rock lithium deposit in the Americas, located in its wholly-owned Grota do Cirilo project in Brazil with the goal of participating in the rapidly expanding global supply chain of electric vehicles.
Based on the Feasibility Study report, the company indicated its plans to produce 220,000 tonnes annually of battery grade lithium concentrate lithium (33,000 tonnes of lithium carbonate equivalent ("LCE")) in Production Phase 1 and expects to be amongst the world's lowest-cost producers. In Production Phase 2, if warranted after ongoing feasibility study, production would be increased to 440,000 tonnes (65,000 tonnes of LCE) annually.