Sigma Lithium obtains financing
Sigma Lithium obtains financing – After abandoning the sale of the Sigma Lithium mining company in Brazil, the company received approval from BNDES for financing for R$487 million to implement a new lithium processing unit, with a project highlighted by its socio-environmental sustainability. The project does not use harmful chemicals, does not have tailings dams, does not use drinking water, and is considered net zero carbon, as it uses energy from renewable sources.
According to Sigma’s CEO, Ana Cabral Gardner, the pressure on the price of lithium on the international market is motivated by the slowdown in the entry of electric vehicles into the market worldwide, while China significantly increased its metal production.
As a result, Sigma, which had already received proposals from companies in the energy, battery, and automotive sectors, decided not to sell the company and expand its operations and sought financing from BNDES.
The total investment is R$492.4 million and the goal is to increase production capacity from 270,000 tons/year to 520,000 tons/year of lithium concentrate at the Itinga unit in the Jequitinhonha Valley, Minas Gerais.
“At Sigma, we are very honored to receive BNDES approval for financing for Sigma Lithium’s new zero-carbon industrial unit with green technology in the Jequitinhonha Valley. Our first ‘greentech’ industrial plant has become a global example of lithium beneficiation in an environmentally sustainable manner, with significant economic value added for all stakeholders and society,” says Ana Cabra-Gardner, CEO and co-chair of the board of Sigma Lithium.
