Sigma Lithium Secures Triple Environmental License for Barreiro Mine in Brazil
SÃO PAULO, Dec. 20, 2024 /PRNewswire/ — Sigma Lithium Corporation SGML BVMF: S2GM34 has achieved a significant milestone by obtaining a Triple Environmental License for its Barreiro mine in Brazil. This license allows the company to maintain sustainable operations as it supports the growing demand for lithium in electric vehicles.
Approval Marks a Key Step in Expansion Plans
The Triple Environmental License was granted after a comprehensive evaluation, receiving unanimous approval from the Chamber of Mining Activities in Minas Gerais, Brazil. This achievement secures long-term mining operations and a steady supply of spodumene ore for Sigma Lithium’s facilities, guaranteed throughout the 16-year tenure of BNDES financing.
Proactive Environmental Efforts Yield Results
Although mining at Barreiro isn’t immediately necessary, Sigma Lithium is taking a forward-thinking approach to environmental permitting. Since initiating environmental assessments in January 2021 and applying for licenses in July 2022, the company has also invested in community projects. In collaboration with local municipalities, Sigma has financed the construction of a school and childcare unit, alongside programs for after-school activities supported by two NGOs.
Commitment to Sustainable Mining
This strategic licensing achievement positions Sigma Lithium for growth. It reinforces their commitment to responsible practices, allowing future operations at Barreiro when demand requires. CEO Ana Cabral expressed optimism, stating that this license provides a necessary framework to ensure a reliable lithium supply moving forward.
About Sigma Lithium: Leading the Charge in Sustainable Lithium Production
With a focus on environmentally friendly practices, Sigma Lithium is dedicated to producing sustainable lithium concentrate for electric vehicle batteries. They operate in Brazil’s Grota do Cirilo and championed the creation of Zero Tailings Green Lithium, which minimizes environmental impact by eliminating carbon emissions, toxic chemicals, and other environmentally harmful elements.
Phase 1 of their operations began commercial production in the second quarter of 2023, and they are moving ahead with plans to double their lithium concentrate output to 520,000 tonnes through a Phase 2 expansion.
For further details, visit Sigma Lithium’s official website.
Sigma Lithium
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FORWARD-LOOKING STATEMENTS
This release includes “forward-looking information” under applicable securities legislation. This includes estimates and expectations related to the Company’s business outlook, environmental impacts, production levels, and other future developments. Forward-looking statements are based on certain assumptions about economic and political conditions.
Sigma Lithium Receives Green Light for Barreiro Mine
New Environmental License Promises Growth Amid Evolving Electric Vehicle Market
In Brazil, a stable legislative and regulatory environment supports Sigma Lithium Corporation’s plans to expand its operations. The growing demand for lithium, driven mainly by the electric vehicle sector, positions the company favorably in the coming years. However, there are several factors to consider regarding the company’s future financial and operational success.
Sigma Lithium is optimistic about its market position and has provided estimates for its mineral resources and reserves. An important consideration is whether these resources will transition into mineral reserves that can be developed. The company is also focused on maintaining smooth operations at its mineral projects, relying on consistent availability of materials, skilled labor, and technical resources.
Despite management’s confidence in these forward-looking statements, there are inherent risks involved. For example, the market prices for lithium could fluctuate, and the current market for electric vehicles and large-format batteries has not yet captured significant market share. These uncertainties could impact the company’s ability to advance its lithium operations effectively.
As a result, readers are cautioned against placing too much reliance on predictions about the company’s future performance. Actual results may differ due to a variety of factors. Sigma Lithium disclaims any obligation to update or revise forward-looking information unless required by law. For details on potential risks and uncertainties affecting performance, stakeholders are encouraged to review the company’s annual information form and other public filings available on their profile at www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this news release.
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SOURCE Sigma Lithium Corporation
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