Sigma Lithium ‘confident’ of surpassing 2025 output target

Sigma Lithium (TSXV, NASDAQ: SGML) says it’s “well-positioned” to exceed its production target this year after surpassing expectations during the final quarter of 2024.Last week, the company announced it produced approximately 75,000 tonnes of lithium concentrate, which is 25% higher than the 60,000 tonnes it had forecast earlier. This brings its 2024 yearly output to 240,000 tonnes.The Vancouver-headquartered Sigma produces high-purity lithium concentrates from its Grota do Cirilo operation in Minas Gerais, Brazil. The product is labelled “Quintuple Zero Green Lithium” — as its production process uses no chemicals, potable water, tailings dams or carbon-intensive energy.Sigma’s fully integrated lithium operation first entered commercial production in 2023. It is currently in Phase 1 of operations with a nameplate capacity of 270,000 tonnes per annum of lithium concentrate. In a Dec. 30, 2024 news release, Sigma CEO and co-chairman Ana Cabral said the fourth quarter results have reinforced the company’s confidence in its ability to surpass this target in 2025.Meanwhile, a Phase 2 expansion is underway to raise the nameplate capacity to 520,000 tonnes, backed by a 16-year loan from the National Brazilian Bank for Economic and Social Development (BNDES).The company is also planning a second mine at Grota do Cirilo, having recently obtained the necessary licence. To date, Sigma has delineated a proven and probable reserve base of 2.65 million tonnes in lithium carbonate equivalent across its property package in Brazil.By market close Monday, Sigma’s shares traded 6.5% higher at C$18.58 apiece, for a market capitalization of approximately C$2.1 billion ($1.4bn).Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com