Sigma Lithium hits 1Q production, sales goals

: Metals
25/04/07

Sigma Lithium hit its first quarter lithium concentrate production and sales targets in Brazil after a sizeable deal with a UAE-owned company.

Sigma produced 68,300 metric tonnes (t) of lithium oxide concentrate in the first quarter, after agreeing to sell 76,000t to International Resources Holding (IRH), a metals and critical minerals trading company owned by the Royal Group of Abu Dhabi, the firm said in a press release.

Sigma shipped 47,000t — its first of two batches to the company — in early March, with a following 29,000t scheduled to be shipped this week.

Following the sale, the company achieved a 2.8pc increase in volumes over the previous quarter. Although undisclosed, Sigma's chief executive Ana Cabral said that the company beat its sales targets for the period.

The company operates the fifth-largest lithium oxide mining complex in the world, which is expected to produce 300,000t of the mineral compound this year.

Sigma anticipates to achieve all of its quarterly production targets for 2025.

By Pedro Consoli

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