PILBF - Sigma Lithium says planned Brazil project would be among world's largest

Sigma Lithium (NASDAQ:SGML) +5.2% in Wednesday's trading after raising the total estimated mineral resource at its Grota do Cirilo project in Brazil by ~50% to 85.7M metric tons, which would make the mine the largest hard-rock lithium project in the Americas, and behind only SQM (SQM), Albemarle (ALB) and Pilbara Minerals (OTCPK:PILBF) in the global lithium rankings. Sigma Lithium (SGML) said the project is on track to begin producing early next year at 37K metric tons/year of lithium carbonate equivalent, as it wraps up engineering for a second phase that would lift production to ~72K tons/year in 2024. The company said drilling for a third phase would boost resources by ~50% to 85.7M tons. "The high quality of the Phase 3 mineral resource might potentially enable Sigma Lithium to maintain high production yields utilizing a similar environmentally sustainable Greentech plant to the one currently in construction for Phase 1," co-CEO

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Sigma Lithium says planned Brazil project would be among world's largest