Sigma Lithium says received several proposals from potential strategic partners, shares up
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(Kitco News) - Shares of lithium producer Sigma Lithium Corporation (NASDAQ: SGML) (TSXV: SGML) are trading higher today after it announced that the company and its wholly-owned subsidiary Sigma Brazil received several proposals from the potential strategic partners.
In a statement, Sigma Lithium said that the proposals are for the Brazilian company Sigma Brazil, for the Canadian parent Sigma Lithium Corporation (together the “Companies”) as well as for the Grota do Cirilo project.
Sigma Lithium added that the Companies and the Grota do Cirilo project have attracted interest from potential strategic partners, “including global industry leaders in the energy, auto, batteries and lithium refining industries.”
Sigma Lithium also noted that each alternative will be thoroughly considered before any strategic partner is selected or any transaction is agreed. The company plans to conclude the strategic process this year.
“In reviewing the proposals received, the Board of Directors of the Companies are deeply committed to maximizing value for all public shareholders of Sigma Lithium, as well as for all stakeholders, employees and communities of Sigma Brazil at Vale do Jequitinhonha,” Sigma Lithium said in a press release.
Sigma Lithium is currently producing Triple Zero Green Lithium (zero carbon, zero tailings and zero hazardous chemicals) from its Grota do Cirilo project in Brazil.
Phase 1 of the project is expected to produce 270,000 tonnes of Triple Zero Green Lithium annually (36,700 tonnes of lithium carbonate equivalent (LCE) annually). If it is determined to proceed after completion of an ongoing feasibility study, Phase 2 & 3 of the project are expected to increase production to 766,000 tonnes annually (or 104,200 tonnes of LCE annually).
The company said that the project produces Triple Zero Green Lithium in its state-of-the-art Greentech lithium plant that uses 100% renewable energy, 100% recycled water and 100% dry-stacked tailings.
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