Sigma Lithium (TSXV, NASDAQ: SGML) says it’s “well-positioned” to exceed its production target this year after surpassing expectations during the final quarter of 2024.

Last week, the company announced it produced approximately 75,000 tonnes of lithium concentrate, which is 25% higher than the 60,000 tonnes it had forecast earlier. This brings its 2024 yearly output to 240,000 tonnes.

The Vancouver-headquartered Sigma produces high-purity lithium concentrates from its Grota do Cirilo operation in Minas Gerais, Brazil. The product is labelled “Quintuple Zero Green Lithium” — as its production process uses no chemicals, potable water, tailings dams or carbon-intensive energy.

Sigma’s fully integrated lithium operation first entered commercial production in 2023. It is currently in Phase 1 of operations with a nameplate capacity of 270,000 tonnes per annum of lithium concentrate. In a Dec. 30, 2024 news release, Sigma CEO and co-chairman Ana Cabral said the fourth quarter results have reinforced the company’s confidence in its ability to surpass this target in 2025.

Meanwhile, a Phase 2 expansion is underway to raise the nameplate capacity to 520,000 tonnes, backed by a 16-year loan from the National Brazilian Bank for Economic and Social Development (BNDES).

The company is also planning a second mine at Grota do Cirilo, having recently obtained the necessary licence. To date, Sigma has delineated a proven and probable reserve base of 2.65 million tonnes in lithium carbonate equivalent across its property package in Brazil.

By market close Monday, Sigma’s shares traded 6.5% higher at C$18.58 apiece, for a market capitalization of approximately C$2.1 billion ($1.4bn).

Source: MINING.COM – Read More