Energy & Critical Metals
Sigma Lithium Announces First Shipment Of Tailings And Green Lithium
Sigma Lithium (TSXV: SGML) is reporting this morning that it has managed to deliver on its zero tailings strategy amid
The post Sigma Lithium Announces…
Sigma Lithium (TSXV: SGML) is reporting this morning that it has managed to deliver on its zero tailings strategy amid production start up at its Grota do Cirilo Project in Brazil.
The strategy, as the name implies, centers around the company producing no waste material from the production of lithium carbonate, eliminating the need for hazardous tailings dams.
Instead, the company has entered into a “green tailings environmental offtake” arrangement, that will see up to 300,000 tonnes of green tailings sold per year for an initial three year term. The arrangement will see the firms tailings sold to a third party that then upcycles the tailings into battery grade lithium concentrate.
READ: Sigma Lithium Starts Production Of Lithium Concentrate
The “green tailings,” as referred to by Sigma, are said to contain 1.3% lithium oxide and zero chemicals, which is produced as a by-product in Sigma’s Greentech plant.
A spot sale arrangement has also been entered into for the sale of 15,000 tonnes of lithium.
The first payment on Sigma’s first shipment of the tailings, along with a shipment of green lithium, has reportedly been received, however limited financial details were provided. A 50% prepayment was reportedly received in advance, with the company being paid at a rate of 9% of the lithium hydroxide index, with adjustments for grade, processing and tolling.
The shipment is said to have been 30,000 tonnes in size, equally split between lithium and tailings.
Sigma Lithium last traded at $51.84 on the TSX Venture.
Information for this briefing was found via Sedar, Reuters, and the sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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