2023-04-20 11:25:56 ET
Sigma Lithium ( NASDAQ: SGML ) is preparing to make its first lithium shipment from Brazil, with material bound for a processor for South Korea's LG Energy Solution, CEO Ana Cabral-Gardner told Reuters Thursday.
Sigma Lithium ( SGML ) previously said it was aiming to make its first shipment of ~15K metric tons of lithium in May.
The CEO said 300K metric tons of ultrafine tailings from the first phase of operation will be turned into a pre-chemical input for popular car batteries, adding expansion in a second and third phase would nearly triple capacity to 766K tons by mid-2024.
The company started production at the Grota do Cirilo lithium mine earlier this week , and 100% of its current output is lined up for export.
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 prepares first lithium shipment from Brazil, CEO says