Sigma Lithium increases its mineral resources in Brazil by 27%

Published: Feb 01, 2024 19:15 (GMT+8)

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This resource update can be reflected in the company's valuation and potentially change the coming-up acquisition landscape.

On 31 January, Sigma Lithium announced its Grota do Cirilo project in Brazil had increased its mineral resources by 27%, making the project “the world’s 4th largest operating industrial pre-chemical lithium beneficiation complex” with 100% wholly-owned, fully integrated spodumene mining operations.

The project now has 109 million tonnes of measured, indicated and inferred mineral lithium resource, which is expected to add tangible value for existing and future shareholders. Considering the company is evaluating acquisition offers and has seen interest from companies including CATL, BYD and Volkswagen, this resource update can be reflected in the newest valuation and potentially change the acquisition landscape.

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