LRS 2.27% 22.5¢ latin resources limited

SIGMA LITHIUM IS AWARDED BY BNDES A LETTER OF INTENTION FOR...

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    SIGMA LITHIUM IS AWARDED BY BNDES A LETTER OF INTENTION FOR DEVELOPMENT BANK DEBT TO FUND CONSTRUCTION OF ITS ENVIRONMENTALLY FULLY LICENSED SECOND GREENTECH INDUSTRIAL LITHIUM PLANT

    HIGHLIGHTS

    • Sigma Lithium completed the certification process with BNDES, which included the filing of the final FEL3 Capex for Construction and Engineering of the Second Greentech Plant totaling R$ 492,4 million or approximately US$ 100 million

    • The Letter of Intention by BNDES outlines its intention to extend the Company development bank debt financing (“Development Bank Debt”) to fund the Second Greentech industrial lithium concentrate production plant (“Second Greentech Plant”) at Vale do Jequitinhonha in Brazil.

    • Sigma is also pleased to announce it was awarded a concomitant LP, LI, LO environmental license to install and operate (“Full Environmental License”) the Second Greentech Plant by the State of Minas Gerais on January 31, 2024.

    • The Company’s impeccable sustainability track record led it to receive, once more, a unanimous vote by all members of the independent environmental board (COPAM), which votes and awards environmental licenses in Minas Gerais, including the vote of the board members representing the NGOs.

    • The Full Environmental License allows the Company to further expand its industrial beneficiation and processing capacity of lithium minerals to up to a total of 3.7 million tonnes per year.

    • With the Second Greentech Plant, Sigma expects to significantly increase its production capacity of its Quintuple Zero Green Lithium from the current 270,000 tonnes (on an annualized basis) by approximately 240,000 tonnes (at a design estimated capacity at 6% Li2O) to approximately 510,000 tonnes.

    • The Second Greentech Plant will introduce additional innovations that will further increase the efficiency of its industrial process to beneficiate spodumene ore into Quintuple Zero Green Lithium.

    • Sigma’s learning curve while commissioning the First Greentech Plant, rapidly achieving nameplate capacity has been essential to its ability to innovate and further enhance a process that beneficiates spodumene ore into pre-chemical lithium concentrate.

    • Sigma anticipates initiating construction in the first quarter of 2024 at the end of the wet raining season, following a Final Investment Decision to be made by its Board of Directors.
 
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