Sigma Lithium Corp. (SGML), a leading global lithium producer dedicated to powering the next generation of electric vehicles (EVs), is maintaining its impressive production momentum. The company recently shipped 22,000 tons of its coveted Quintuple Zero Green Lithium to Mitsubishi Corporation RtM International Pte. Ltd, a wholly-owned subsidiary of Mitsubishi Corporation. This marks another successful shipment in Sigma’s near-monthly production cadence, which allows the company to increase its commercial flexibility and further its diversification strategy. Sigma aims to sell its green lithium to leading global battery supply chains and has plans to announce additional commercial partnerships in various geographies in the fourth quarter.
This latest shipment, the 12th of Quintuple Zero Green Lithium to Mitsubishi, is priced at a provisional premium floating price, equivalent to 8.25% of Lithium Hydroxide quoted on the London Metal Exchange (LME). Sigma’s consistent production and delivery of its green lithium is a testament to its commitment to reliable supply. In the second quarter of 2023 alone, Sigma Lithium sold 52,572 tons of Quintuple Zero Green Lithium, securing new customers in South Korea and Japan. These new partnerships highlight the company’s reputation as a reliable supplier to the battery supply chain.
“We are very pleased with our commercial partnership and deepening relationship with Mitsubishi,” said Ana Cabral, Sigma Lithium’s CEO and co-chairperson. “Mitsubishi’s market visibility, as a Japanese industrial conglomerate, has helped Sigma Lithium successfully navigate the pronounced seasonality of demand and price swings displayed by the lithium market this summer.” Sigma Lithium attributes its success to the exceptional metallurgical properties, environmental sustainability, and social traceability of its Quintuple Zero Green Lithium. The company proudly claims to be the only global producer of this type of lithium, which boasts a zero carbon footprint. Unlike traditional lithium production, Sigma Lithium’s process does not rely on coal power, tailing dams, or hazardous chemicals. This commitment to sustainable production results in high-quality lithium that checks off two critical boxes for EV makers: minimizing their environmental impact and sourcing high-quality materials to fuel the EVs of the future.
Sigma Lithium is not only focused on its production, but also on strengthening its management team. As part of its diversification strategy, with a focus on expanding exports and trade finance, the company has appointed Rogerio Marchini as its new CFO and Executive Vice President of Corporate Finance. Marchini brings over 24 years of experience in key lithium mining destinations, particularly in Brazil. Prior to joining Sigma Lithium, he served as CFO of Origo, a private equity portfolio company of TPG International in the energy transition space. Marchini’s extensive experience in managing startups and driving revenue generation will be invaluable to Sigma Lithium as it continues its growth trajectory.
Caio Araujo, Sigma Lithium’s former CFO, will transition to the role of Director of the Controller’s Office, while Felipe Peres, who previously led Sigma Lithium to its Nasdaq listing, returns as Director of Site Administration and Finance. Peres will also oversee procurement and controls for the construction of Sigma Lithium’s phase 2 expansion of the Greentech Lithium Processing Plant, which will double its capacity to 520,000 tons of Quintuple Zero Green Lithium. This expansion will include several innovations designed to enhance the efficiency of the process for beneficiating mineral spodumene ore into high-purity concentrate. Construction has already begun, and completion is expected in summer 2025.
“We are delighted to welcome Rogerio Marchini to our senior leadership. Rogerio is a tremendous addition to our finance team, a seasoned Brazilian executive with significant experience in comparable companies encompassing key aspects of our business: energy transition and global exporting,” said Cabral. “In a testament to our culture of excellence and teamwork, Rogerio will be supported by two former Sigma Lithium CFOs who have been deployed to lead critical areas within the finance department. Rogerio’s appointment further bolsters the strength of our finance team.”
With a clear vision for growth, a new CFO on board, and the imminent launch of its second Greentech plant, Sigma Lithium is poised to continue its remarkable journey of delivering green lithium to EV makers worldwide. The company’s unwavering commitment to sustainability and its dedication to producing high-quality lithium make it a green story worth watching closely.
