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UPDATE 2-Sigma Lithium shares soar on report Tesla considering buyout 

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Add details from report, background) Feb 17 (Reuters) - U.S.-listed shares of Sigma Lithium Corp rose 21% in extended trading on Friday after Bloomberg News reported that Tesla Inc was weighing a takeover of the Canada-based battery metals miner. Tesla has been speaking with potential advisers about a bid, the report said, citing people with knowledge of the matter,
and added that Sigma Lithium is one of the many mining options the electric-vehicle maker is exploring as it mulls its own refining. U.S. stock of Sigma Lithium, which has a market capitalization of $3.21 billion, nearly trebled in value last year. Tesla and Sigma Lithium did not immediately respond to Reuters requests for comment.


Chief executive Elon Musk said last year Tesla was open to buying a mining company if producing its own supply of electric vehicle metals would speed up worldwide adoption of clean energy technologies. The company already has supply contracts for nickel, lithium and a range of other EV metals from suppliers across the globe. (Reporting by Tiyashi Datta in Bengaluru; Editing by Shinjini Ganguli)

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