Sigma Lithium secures $45mln for Brazilian project, expects first output in 2022

Canada-based Sigma Lithium Resources has secured the last tranche of the funds needed to begin construction of its commercial spodumene carbonate plant in Brazil, expected to start producing in 2022, chief strategy officer Ana Cabral-Gardner told Fastmarkets on Friday June 26.

The company has signed an agreement for a $45-million project finance facility led by French bank Société Générale, which added to a pre-payment agreement of $27 million signed with Mitsui & Co. The project capital expenditures were estimated to total $74 million.
“[The Covid-19] pandemic postponed the signing of this project finance agreement,” Cabral-Gardner said. “We expected work [on the commercial plant] to begin in April, but now construction is set to start in August.”

The pandemic also seems to have delayed the speed of the global fleet shift to electric vehicles, because this will demand battery-grade...

Published

Renato Rostás

June 29, 2020

12:35 GMT

São Paulo