SGML - Sigma Lithium Secures Funds For Brazilian Flagship Praises 'Significantly Lower' Interest Rates | Benzinga
Development Bank of Brazil (BNDES) sent a letter of intent to Canadian mining company Sigma Lithium (NASDAQ:SGML) to provide additional funding for Grota do Cirilo, a lithium project in Minas Gerais, Brazil.
Sigma plans to invest $100 million (492.4 million reais) in a second processing plant to double output to 510,000 metric tons annually. Construction is slated to commence by the end of March, subject to final approval from BNDES and Sigma’s board.
"We are honored and delighted with the Letter of Intention received today from BNDES. Development Bank Debt awarded by Brazil has the potential to ...