2023-04-10 16:42:37 ET
Sigma Lithium ( NASDAQ: SGML ) said Monday it received an operating license from Brazilian regulators to sell and export lithium, and CEO Ana Cabral-Gardner told Reuters production from its Grota do Cirilo hard rock lithium mine should begin "within days ."
The approval to operate the mine and processing equipment was confirmed by the State Secretariat of Environment and Development, the environmental regulator for Brazil's Minas Gerais state.
Production is expected to slowly ramp up in coming months and hit a production rate of 270K metric tons/year of spodumene concentrate by July.
Sigma Lithium ( SGML ) has said the mine is expected to reach $455M in annual free cash flow for its first phase of production.
Cabral-Gardner also told Reuters that several companies have been "waiting for some approach to Sigma," but declined to comment when asked if Sigma ( SGML ) is in any takeover talks.
Sigma Lithium ( SGML ) shares surged in mid-February on speculation that Elon Musk was weighing a takeover offer for the company .
For further details see:
Sigma Lithium to start production 'within days' at Brazilian mine, CEO says