2023-04-17 08:48:54 ET
Sigma Lithium ( NASDAQ: SGML ) +2.2% pre-market Monday after saying it achieved first production of its Green Lithium battery grade sustainable lithium concentrate, with initial production runs already achieving 75% of nameplate throughput capacity.
The company said the milestone was reached through the completed commissioning of the Dense Medium Separation circuit, the second module of its Greentech Plant, which marks the finalization of construction of Phase 1 of the Grota do Cirilo project in Brazil.
Sigma Lithium ( SGML ) said it expects first shipment of 15K metric tons of Green Lithium by May 2023, with production at full capacity by July.
The company said it has generated significant commercial interest in and intends to sell 100% of its ultra-fine tailings, which is expected to total ~300K metric tons from Phase 1 operations.
Sigma Lithium ( SGML ) shares surged in mid-February on speculation that Elon Musk was weighing a takeover offer for the company .
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Sigma Lithium launches Green Lithium production, sees full capacity by July