Sigma Lithium to start production plant construction
Completion of this stage of the construction civil works is expected within three months.
electric vehicle battery manufacturing
high purity lithium
VANCOUVER– Sigma Lithium Corporation, a producer of electric vehicle batteries with high-purity lithium, has commenced construction on site to build the foundation and infrastructure installation of its greentech dense media separation production plant at its wholly owned Grota do Cirilo Project.
The company stated that is has also secured 38 critical long lead items required for the project and has begun to order them from respective suppliers, placing deposits to secure manufacturing timetables. Prices and FEL-3 quotes for these long lead items have been in line with the FEL-2 capex estimates in the feasibility study included in the company’s most recently filed technical report.
Completion of this stage of the construction civil works is expected within three months, when the Brazilian sub-construction firm of Promon Engenharia Ltda. is expected to complete earthworks and the concrete plant drainage channels. This stage follows the last month’s mobilization of approximately 180 workers and construction equipment to the site.
In order to fund construction, the company allocated the funds to meet the equity funding requirements under its proposed construction bank debt facility. The company signed term sheets for debt and project finance with BDMG, the development bank of the Minas Gerais State and a commercial bank. The closing of these debt transactions is pending the completion of customary due diligence and definitive documentation.
“This is a tremendous milestone for Sigma Lithium, now initiating the construction of the Production Plant, following the successful completion of mobilization and the front-end engineering and design. As a result, we have been able to quote FEL-3 Capex in line with our FEL-2 estimates in our feasibility study. Our team has worked tirelessly this year on several fronts on detailed engineering and pre-construction with the environmental focus that has been a hallmark of Sigma,” said Calvyn Gardner, Sigma co-CEO and lead engineer on the ground at construction site in a statement.