Make Kitco Your Homepage

Sigma Lithium increases resources by 50% at its Grota do Cirilo lithium project in Brazil

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - On Wednesday, lithium developer Sigma Lithium (TSXV: SGML) announced an approximate 50% increase of its total estimated mineral resource at the Grota do Cirilo lithium project in Brazil to 85.7 million tonnes.

According to the company's statement, this substantial increase in estimated mineral resources strengthens the position of Sigma Lithium's Grota do Cirilo project as the largest and highest quality hard rock environmentally and socially sustainable battery grade lithium mineral deposit in the Americas and among the largest in the world.

"This 50% increase of the project's mineral resource underscores its robust organic growth profile. We have been advancing our construction of the Phase 1 operation at a rapid pace and remain focused on delivering Battery Grade Sustainable Lithium following the commissioning of our Greentech plant at the end of 2022," commented co-CEO Calvyn Gardner.

Importantly, the company said that Phase 1 construction remains on schedule and on budget for commissioning to commence in December 2022 and to be completed during the first quarter of 2023.

Sigma Lithium is currently in construction at its wholly owned Grota do Cirilo project in Brazil, which includes a state-of-the-art, green-tech processing plant that uses 100% renewable energy, 100% recycled water and 100% dry-stack tailings.

The company noted that the project also represents one of the largest and highest-grade hard rock lithium spodumene deposits in the Americas.

Anglo American sees strong rough diamond demand in fifth sales cycle of 2022

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.