SÃO PAULO, Dec. 20,
2024 /PRNewswire/ -- Sigma Lithium Corporation
(TSXV/NASDAQ: SGML, BVMF: S2GM34) ("Sigma
Lithium" or the "Company"), a leading global
lithium producer dedicated to powering the next generation of
electric vehicles with carbon-neutral, socially and environmentally
sustainable lithium concentrate, is pleased to announce the receipt
of a Triple Environmental License (Licenca Operacional (LO),
Licenca Previa (LP), Licenca Instalacao (LI)) for its
Barreiro mine. Barreiro is the second mine site within the Grota do
Cirilo property, the Company's 100% owned operation in Brazil, planned for sequential integration to
feed the Company's Greentech Industrial Plant in the coming
years.
Following a rigorous evaluation process, the Triple
Environmental License was approved by a unanimous vote, including
the votes by all NGO members, in a meeting held today by the
members of the Chamber of Mining Activities (Camara Tecnica
Especializada em Atividades Minerarias) of Minas
Gerais, Brazil.
This significant milestone secures the long-term continuous
mining operations and spodumene ore feedstock supply for the
Company's Greentech Industrial Complex throughout the 16-year term
of the BNDES financing.
While current operations do not require immediate mining at the
Barreiro Mine, Sigma Lithium has consistently emphasized a
proactive approach to environmental permitting. The Company
initiated the environmental assessment studies in January 2021 and filed for its environmental
license in July 2022. Furthermore,
the Company commenced the deployment of social capex to benefit the
communities in 2023. In partnership with the Municipalities of
Aracuai and Itinga, Sigma Lithium has funded the construction of a
school and a childcare unit, and has commissioned two NGOs to
provide after-school educational and cultural activities for local
children.
This strategic foresight ensures that the Company is
well-positioned for future growth and expansion plans. The award of
the Triple Environmental License demonstrates this commitment and
provides the Company with the necessary regulatory approvals for
future operations at Barreiro when required.
Ana Cabral, CEO of Sigma Lithium,
stated, "We are very pleased to have received the construction,
installation and operation triple environmental permit required for
our Barreiro mine from the Mining Chamber of the State of Minas
Gerais. This license provides us with the regulatory framework
necessary for our future operations at Barreiro, ensuring a
consistent and reliable supply of lithium feedstock for years to
come. We deeply appreciate the trust and confidence placed in us by
the state of Minas Gerais to continue developing one of the world's
most sustainable lithium operations. The unanimous approval of the
Triple Environmental License is a testament to our years-long
proactive community engagement activities with our future
neighbors, investing social capex well in advance of mining
activities, underscoring our unwavering commitment to sustainable
and responsible mining practices."
ABOUT SIGMA LITHIUM
Sigma Lithium (TSXV/NASDAQ: SGML,
BVMF: S2GM34) is a leading global lithium producer dedicated to
powering the next generation of electric vehicle batteries with
carbon-neutral, socially and environmentally sustainable
chemical-grade lithium concentrate.
Sigma Lithium is one of the world's largest lithium producers.
The Company operates at the forefront of environmental and social
sustainability in the electric vehicle battery materials supply
chain at its Grota do Cirilo Operation in Brazil. Here, Sigma produces Quintuple Zero
Green Lithium at its state-of-the-art Greentech lithium
beneficiation plant, delivering net zero carbon lithium, produced
with zero carbon intensive energy, zero potable water, zero toxic
chemicals and zero tailings dams.
Phase 1 of the Company's operations entered commercial
production in the second quarter of 2023. The Company has issued a
Final Investment Decision, formally approving construction to
double capacity to 520,000 tonnes of lithium concentrate through
the addition of a Phase 2 expansion of its Greentech Plant.
For more information about Sigma Lithium, visit
https://www.sigmalithiumresources.com/
Sigma Lithium
LinkedIn: Sigma Lithium
Instagram: @sigmalithium
Twitter: @SigmaLithium
FORWARD-LOOKING STATEMENTS
This news release
includes certain "forward-looking information" under applicable
Canadian and U.S. securities legislation, including but not limited
to statements relating to timing and costs related to the general
business and operational outlook of the Company, the environmental
footprint of tailings and positive ecosystem impact relating
thereto, donation and upcycling of tailings, timing and quantities
relating to tailings and Green Lithium, achievements and
projections relating to the Zero Tailings strategy, achievement of
ramp-up volumes, production estimates and the operational status of
the Groto do Cirilo Project, and other forward-looking information.
All statements that address future plans, activities, events,
estimates, expectations or developments that the Company believes,
expects or anticipates will or may occur is forward-looking
information, including statements regarding the potential
development of mineral resources and mineral reserves which may or
may not occur. Forward-looking information contained herein is
based on certain assumptions regarding, among other things: general
economic and political conditions; the stable and supportive
legislative, regulatory and community environment in Brazil; demand for lithium, including that
such demand is supported by growth in the electric vehicle market;
the Company's market position and future financial and operating
performance; the Company's estimates of mineral resources and
mineral reserves, including whether mineral resources will ever be
developed into mineral reserves; and the Company's ability to
operate its mineral projects including that the Company will not
experience any materials or equipment shortages, any labour or
service provider outages or delays or any technical issues.
Although management believes that the assumptions and expectations
reflected in the forward-looking information are reasonable, there
can be no assurance that these assumptions and expectations will
prove to be correct. Forward-looking information inherently
involves and is subject to risks and uncertainties, including but
not limited to that the market prices for lithium may not remain at
current levels; and the market for electric vehicles and other
large format batteries currently has limited market share and no
assurances can be given for the rate at which this market will
develop, if at all, which could affect the success of the Company
and its ability to develop lithium operations. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. The Company
disclaims any intention or obligation to update or revise any
forward-looking information, whether because of new information,
future events or otherwise, except as required by law. For more
information on the risks, uncertainties and assumptions that could
cause our actual results to differ from current expectations,
please refer to the current annual information form of the Company
and other public filings available under the Company's profile at
www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
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SOURCE Sigma Lithium Corporation
