- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Sigma Lithium to Double Grota do Cirilo Output Capacity with Brazilian Bank Loan
The development loan of 487 million Brazilian reais will allow Sigma to double the production capacity of its Grota do Cirilo lithium operation.
![Brazil money.](https://investingnews.com/media-library/brazil-money.jpg?id=53580322&width=1200&height=800&quality=80&coordinates=0%2C0%2C0%2C0)
Sigma Lithium (TSXV:SGML,NASDAQ:SGML) announced on Thursday (August 29) that a development loan of 487 million Brazilian reais will allow it to double the production capacity of its Grota do Cirilo lithium operation.
The National Brazilian Bank for Economic and Social Development has made a binding commitment to provide Sigma with the funds, which will allow the company to build a second Greentech carbon-neutral plant.
With the new plant, Sigma will be able to boost it annual output of Quintuple Zero Green Lithium from 270,000 metric tons to about 520,000 metric tons. "Quintuple Zero" refers to the product’s five key environmental attributes: zero carbon emissions, zero use of potable water, zero hazardous chemicals, zero tailings dams and zero use of dirty power.
Located in Minas Gerais, Brazil, Grota do Cirilo is already considered one of the largest lithium operations in the world. Phase 1 operations began commercial production in the second quarter of 2023.
The expansion is expected to enhance the company’s ability to meet growing demand for lithium, particularly from the electric vehicle sector, while maintaining its alignment to global standards for sustainability.
The existing Greentech plant uses 100 percent renewable energy. Additionally, the company has implemented a dry-stacking method for tailings management, eliminating the need for a tailings dam. Water used in the production process is sourced from sewage treatment to further reduce environmental impact.
Sigma was recognized at COP28 for its clean technology and environmental sustainability practises.
The expansion project, which was approved by the company’s board in April, is expected to be completed within a 12 month period, with commissioning scheduled for mid-2025. Construction activities have already been initiated.
Sigma recently reported its second quarter results, outlining revenue of US$45.92 million for the quarter, driven by the sale of 52,572 metric tons of Quintuple Zero Green Lithium.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.Â
Giann Liguid is a graduate of Ateneo De Manila University with an AB in Interdisciplinary Studies. With a diverse writing background, Giann has written content for the security, food and business industries. He also has expertise in both the public and private sectors, having worked in the government specializing in local government units and administrative dynamics. When he is not chasing the next market headline, Giann can most likely be found thrift shopping for his dogs.
Learn about our editorial policies.