Lithium Ore Supply In Brazil Keeps Expanding, Sigma Lithium Could Potentially Become One Of The World’s Top Lithium Suppliers

With the recent shipment of 15,000 mt of lithium concentrate and 30,000 mt of by-product to the Port of Victoria by Brazil's Sigma Lithium, the company had achieved its second transportation target for the year. The first shipment of the year consisted of 15,000 mt of lithium concentrate and 16,500 mt of by-product on July 27, with a selling price of $3,500 and $350/mt respectively.

All the products were produced at the company's Greentech plant, with the first batch being produced in April 2023 as part of the Phase 1 project. The Sigma representative stated that with the completion of these two shipments, the company expected to smoothly achieve its 2023 production guidance of 130,000 mt of lithium ore. By the end of the third quarter of this year, it is projected to reach an annual production capacity of 270,000 mt.

With the continuous ramp-up of production capacity at the Greentech plant, Sigma Lithium plans to continue its related shipments in the near future. This includes 15,000 mt of lithium concentrate in early September, 30,000 mt of by-product in mid-September, and an additional 18,000 mt of lithium concentrate at the end of September.

The company also stated that it expected its product sales revenue to exceed operating costs starting from the third quarter of 2023, as it profited from selling its lithium concentrate and by-products. Sigma Lithium is currently progressing with its plan to triple its production capacity and anticipates completing the expansion of Phases 2 and 3 by 2024. This project could potentially make the company one of the world's largest lithium suppliers.