Sigma Lithium Announces Final Investment Decision And Initiation Of Construction To Double Production Capacity To 520,000t/Y; Capital Expenditure For Phase 2 Industrial Greentech Plant Is Targeted To Be $100M
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Sigma Lithium announces a final investment decision to double its production capacity to 520,000 tonnes/year with a $100M investment in Phase 2 of its Industrial Greentech Plant. The expansion aims to power 1.8 million EVs and is expected to be completed in 10 months, with construction starting in 4Q24. The company plans to finance the expansion with existing cash and future cash flow from lithium concentrate shipments. Sigma Lithium ended its first production year with positive cash adjusted EBITDA and operating profit, despite a decline in lithium prices.

April 01, 2024 | 12:39 pm
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Sigma Lithium's $100M investment to double production capacity to 520,000 tonnes/year aims to meet rising EV demand. The project, funded by cash and future sales, is expected to enhance Sigma's market position and shareholder value.
The expansion of Sigma Lithium's production capacity is a significant move to capitalize on the growing demand for lithium, essential for electric vehicles. By doubling its production capacity, Sigma Lithium not only ensures a steady supply of lithium concentrate but also positions itself as a key player in the lithium market. The project's funding strategy, leveraging existing cash and anticipated future cash flows, demonstrates financial prudence and confidence in the lithium market's growth potential. This expansion is likely to be viewed positively by investors, given the strategic importance of lithium in the EV industry and Sigma Lithium's proven track record of project execution.
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