Welcome to our dedicated page for Sigma Lithium Corporation news (Ticker: SGML), a resource for investors and traders seeking the latest updates and insights on Sigma Lithium Corporation stock.
Sigma Lithium Corporation (SGML) is a global lithium producer whose news flow centers on its Grota do Cirilo operation in Brazil and its role in supplying lithium oxide concentrate for electric vehicle batteries and energy storage systems. Company announcements consistently describe Grota do Cirilo as one of the world’s largest lithium production sites and the fifth-largest industrial-mineral complex for lithium oxide concentrate, making operational updates and strategic decisions at this site key drivers of SGML-related news.
Investors following SGML news can expect regular coverage of production and cost performance, including quarterly results that detail production volumes, sales volumes, cash operating costs, all-in sustaining costs and margins. The company’s releases often highlight whether production targets have been met or exceeded, how costs compare to internal targets and how commercial strategies, such as provisional pricing or selective withholding of product, affect revenues and cash generation.
Another recurring theme in Sigma Lithium’s news is its capacity expansion. Updates on the construction and progress of its second Greentech industrial plant at Grota do Cirilo, procurement of long-lead equipment, and alignment of mining operations with industrial capacity provide insight into the company’s plans to double its lithium oxide concentrate production capacity.
News items also cover capital structure and financing arrangements, including working capital facilities with major clients, trade finance deleveraging and opportunities to monetize high-purity lithium fines and middlings. Governance and leadership developments—such as the appointment of experienced vice presidents, changes in board composition and shareholder meeting results—are reported as the company refines its organizational structure.
Environmental and social topics feature prominently, with releases emphasizing Sigma Lithium’s Quintuple Zero Green Lithium production profile and its social inclusion programs in Brazil’s Vale do Jequitinhonha region. Inclusion of SGML in thematic indices like the Morgan Stanley National Security Index is also highlighted. For investors and observers, the SGML news page offers a consolidated view of operational metrics, expansion milestones, financing developments and sustainability initiatives that shape the company’s trajectory.
Sigma Lithium (NASDAQ: SGML) reported strong Q2 2024 results, showcasing operational efficiency and cost reduction. Key highlights include:
- Revenue of $54.4 million from 52,572t of lithium concentrate sold
- 22% reduction in unit cash costs year-to-date, achieving 2024 guidance ahead of schedule
- CIF equivalent cash costs of $515/t, FOB cash costs of $424/t
- Robust adjusted cash EBITDA margins of 29%, up from 16% in Q1 2024
- Maintained average 10% price premium year-to-date
- Diversified commercial relationships with new South Korean and Japanese companies
- Expects Q3 2024 production of 60,000t of 5.0 Green Lithium
- Cash balance of $99 million as of August 14, 2024
The company achieved operational excellence, maintaining high cash margins of 54% (FOB Brazil) while focusing on cost discipline and increasing sales volume cadence.
Sigma Lithium (NASDAQ: SGML) has completed its first year of production, demonstrating consistent operational performance with its 11th shipment of 22,000t of Quintuple Zero Green Lithium. The company achieved the fastest ramp-up in the lithium industry among current producers. Notably, Sigma Lithium reached a significant milestone of 365 consecutive days with zero fatalities and zero accidents with lost workdays among its 618 employees. This safety record catapulted the company to the equivalent of second place in the ICMM combined safety rankings. The latest shipment is priced at a premium floating price of 8.75% of LME Lithium Hydroxide quoted at LME (CIF Shanghai basis).
Sigma Lithium (NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML), a leading global lithium producer, has announced the release date for its second quarter 2024 financial results. The company will publish its results on August 15, 2024, after market close. This will be followed by an investor conference call on August 16, 2024, at 8:00am eastern time.
Investors can access the Q2 2024 press release, investor presentation, and quarterly filings through Sigma Lithium's investor relations website. A webcast replay will also be available after the event. Sigma Lithium is known for producing carbon neutral, socially and environmentally sustainable lithium concentrate for powering electric vehicles.
Sigma Lithium (NASDAQ: SGML) has signed a US$ 22.4 million deferred letter of credit with Banco do Brasil, marking a significant milestone in its growth as a lithium producer. This transaction enables Sigma to offer 90-day 'export vendor financing' to clients at low interest rates, enhancing its commercial flexibility and market access. The deal, based on 22,000t of July 5th production at 8.75% of LME Lithium Hydroxide price, allows Sigma to phase out existing trade finance lines and transition from receiving advance payments to providing vendor financing.
This move is expected to improve Sigma's competitive position, widen its client base, and potentially institutionalize a premium for its Quintuple Zero Green Lithium concentrate. The company's ability to access this type of export financing demonstrates its maturity as a producer within its first year of operations, positioning it among Brazil's largest industrial exporters.
The global lithium industry is experiencing significant growth, with reserves and resources surging 52.2% to 303.5 million metric tons in Q1 2024 compared to three years ago. Lithium South Development (TSXV:LIS) (OTC:LISMF) filed a new Preliminary Economic Assessment (PEA) for its Hombre Muerto North Lithium Project, revealing an after-tax NPV of US$938 million and an IRR of 31.6%. The company also updated its NI 43-101 technical report, showing a 175% increase in lithium resources to over 1.58 million tonnes of LCE.
Other industry developments include Sigma Lithium 's 40% upgrade in proven and probable reserves, Lithium Ionic Corp.'s $11 million financing for its Brazilian projects, Albemarle 's agreement to increase production quota in Chile, and Standard Lithium 's partnership with Equinor ASA for a potential $160 million investment.
Sigma Lithium appoints Eugenio de Zagottis as an independent director with 99% approval at its latest annual general and special meeting (AGSM). Zagottis is noted for transforming Raia Drogasil into the largest drug retailer in Latin America. The AGSM also elected directors for the coming year, including Alex Rodrigues, Ana Cabral, Bechara Azar, and Marcelo Paiva, diversifying the board's skillset to support business growth. The board now has a 40% representation from underrepresented groups and remains co-chaired by a woman. Shareholders approved Grant Thornton as the company's auditor and authorized a corporate charter transition to Ontario.
Sigma Lithium, a leading global lithium producer, has successfully completed the sale of its 10th shipment consisting of 22,000 tonnes of Quintuple Zero Green Lithium. The sale was made at a premium floating price of 8.75% of LME Lithium Hydroxide, on a CIF Shanghai basis. Scheduled for early July, this shipment marks 11 months of consistent operations, underscoring the company's reliability and operational discipline.
On June 30, 2024, Sigma finalized an FOB export sale at Victoria Port's warehouse for 17,200 tonnes, with the additional 4,800 tonnes balance to be shipped in July. This highlights the robust demand and superior quality of their lithium concentrate, which offers significant cost savings to customers due to its high purity and low mica contaminants.
CEO Ana Cabral emphasized the company's reputation for sustainability and reliability. Commercial Director Catarina Noci added that Sigma's strategy includes a premiumization approach and formula floating based on LME prices to provide clients with price predictability and to share pricing risks.
Sigma Lithium co-chaired a conclave at Saudi Arabia's Future Investments Initiatives Priority Summit in Brazil, emphasizing the importance of materials transition. They discussed energy transition, technology, and social inclusion. Vice President Ligia Pinto highlighted Sigma's sustainability efforts in Brazil’s Jequitinhonha Valley, leading to economic growth and job creation. Sigma also hosted a delegation from the Wharton School at its plant, showcasing Brazil's significant role in the global lithium industry and its Quintuple Zero Green Lithium product.
The summit, themed 'Invest in Dignity,' aimed at building a global order prioritizing dignity through energy transition and social inclusion. Sigma Lithium's operation in Brazil has transformed one of the country's poorest regions through substantial investments and social programs. The company’s Quintuple Zero Green Lithium aligns with its environmental and social sustainability principles. Pinto urged global cooperation to accelerate a just energy transition.
Sigma Lithium has announced its upcoming annual and special meeting of shareholders (AGSM) on July 9, 2024. The meeting, initially scheduled for June 28, 2024, has been rescheduled to allow shareholders adequate time to review the Meeting Circular and other related materials before voting. The AGSM will be held virtually via a live audio webcast, with voting details included in the Meeting Materials dated June 14, 2024. Only shareholders of record as of May 24, 2024, will be eligible to vote. Proxy voting instructions must be submitted to Computershare Investor Services by July 5, 2024. The Meeting Materials are available on SEDAR and the Sigma Lithium website.
Sigma Lithium will participate in a trade mission to China from June 5-7, celebrating 50 years of Brazil-China diplomatic relations. CEO Ana Cabral will engage in panels on energy transition and sustainable development. Sigma will join prominent Brazilian companies like Vale, Embraer, and Bradesco. In Brazil, Sigma will also sponsor and participate in energy forums organized by Columbia University and the Aspen Institute, discussing Brazil's role in the global energy transition.
Sigma aims to highlight its production of Quintuple Zero Green Lithium, positioning Brazil as a leader in sustainable lithium supply for electric vehicles. The mission is part of Sigma's broader initiative to promote the Brazilian lithium industry, which has contributed to significant social and economic development in regions like Vale do Jequitinhonha.