Clean Technology Canada

In-Depth
Sigma Lithium Corporation provides update on operations


Presented by:
CMO

Sigma Lithium ended the quarter with C$123.3 million in cash and cash equivalents as of June 30, 2022, providing sufficient liquidity to advance the Grota do Cirilo Project into production.

August 19, 2022  By  Canadian Manufacturing


Aerial View of Phase 1 Plant Construction Progress

VANCOUVER — Sigma Lithium Corporation, trying to power electric vehicles with environmentally sustainable and high-purity lithium, provided a corporate update from a reportedly transformative second quarter of 2022.

Sigma Lithium ended the quarter with C$123.3 million in cash and cash equivalents as of June 30, 2022, providing sufficient liquidity to advance the Grota do Cirilo Project into production. Phase 1 construction at the Project remains on track with commissioning expected to begin December 2022.

From Ana Cabral-Gardner, Co-CEO of Sigma Lithium. “We are delighted to have further strengthened our operational team by adding industry-leading executives, rounding out a world-class management team at Sigma Lithium. Having achieved all of our execution milestones to date, delivering a transformational quarter demonstrates the ability of this team to drive us in our successful trajectory to become a global protagonist in lithium minerals for electric vehicle batteries.”

From Calvyn Gardner, Co-CEO of Sigma Lithium: “We are very enthusiastic to have recruited Brian, an exceptional, high-caliber individual who has already made his mark at Allkem (Galaxy Resources) over the past ~6 years as COO. Brian has significant experience in operating integrated lithium processing and mining companies. He has a remarkable track record in driving production growth and scalability, as Sigma Lithium prepares to deliver in rapid succession Phase 1, Phase 2 and Phase 3”.

Sigma Lithium continued to advance construction of the Phase 1 production plant and mine during the second quarter of 2022, maintaining its target of initiating commissioning by the end of 2022 and achieving the following significant milestones:

  • General progress of project construction is ~32% compared to a baseline of ~40%.
    • The critical path of project execution and projected project commissioning remain unchanged, with commissioning expected to begin in December.
  • Critical areas of detailed engineering including project management, platework, process design and mechanical are 94% complete or greater, as per figure 1 below.
  • Other key areas of detailed engineering including structural, electrical and concrete, are 76 – 80% complete.
  • Commenced activities to prepare for mining of the Phase 1 deposit, opening the pit (“pre stripping”). The lithium ore to be produced from the mine will be the feedstock of the greentech lithium processing production plant.
  • Initiated electromechanical assembly and plant pre-fabrication offsite, with parts arriving for assembly on site in August 2022.

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