Sigma Lithium Exceeds 2024 Targets, Eyes Further Growth in 2025
Vancouver-based Sigma Lithium has announced it is on track to surpass its 2025 production targets following a strong performance in the final quarter of 2024. The company produced approximately 75,000 tonnes of lithium concentrate during the quarter, exceeding forecasts by 25% and bringing its annual total to 240,000 tonnes.
Operating at the Grota do Cirilo site in Minas Gerais, Brazil, Sigma Lithium is recognized for its 'Quintuple Zero Green Lithium'—an environmentally responsible product manufactured without chemicals, potable water, tailings dams, or carbon-intensive energy. The company began commercial production in 2023 and is now advancing to Phase 2 of its expansion, projected to increase production capacity to 520,000 tonnes annually. This expansion is supported by financing from the National Brazilian Bank for Economic and Social Development.
Sigma holds a robust reserve base of 2.65 million tonnes of lithium carbonate equivalent, reinforcing its role in the global lithium market. In 2023, Brazil’s lithium carbonate exports totaled USD 3.8 million, with Turkey, the United Kingdom, and India being the top importers. Exports to these countries contributed USD 1.2 million, USD 663,300, and USD 580,500, respectively.
Reflecting its operational success, Sigma's shares rose by 6.5% to C$18.58 by the market's close on Monday, bringing the company’s market capitalization to approximately C$2.1 billion (USD 1.4 billion).
