Tag: Sigma Lithium Corp.

Sigma provided an updated Feasibility Study (FS) on Phase 1 production along with an updated mineral reserve and resource estimate for its 100%-owned Grota do Cirilo Li project in Brazil. The updated FS contemplates a 230ktpa operation producing 34kt LCE over an 8-year LOM with an NPV8% of US$1.6B and IRR of 424%. Furthermore, total resources increased by ~12% to 58.9Mt (~2.04Mt LCE), including a 143% increase in reserves to 33.6Mt (1.18Mt LCE) grading 1.43% Li2O. We view this update very positively as the FS has demonstrated robust economics, even before Phase 2 production was incorporated. Once up and running, Grota do Cirilo is expected to become one of the largest, highest-grade and lowest cost Li operations in the world.

Sigma Lithium is constructing Phase 1 of its 100%-owned Grota do Cirilo lithium project in Brazil, a very supportive jurisdiction that is becoming a key part of the battery supply chain. The DFS-staged project is one of the world’s largest, highest-grade, and lowest cost Li spodumene deposits, despite just having just one of four deposits in the simple open pit mine plan. The high-quality resource, at grades of 1.56% and 1.43% Li2O for Phase I and II respectively, rank it 3rd and 6th highest in the world. Phase I and II costs of US$342/t and US$360/t CIF China ranks the project 2nd lowest after Greenbushes. With a focus on ESG, it will include a green-tech plant using 100% renewable energy, recycled water and dry stacked tails.