{"id":7469,"date":"2024-09-03T15:05:52","date_gmt":"2024-09-03T15:05:52","guid":{"rendered":"https:\/\/dailywashingtoninsider.com\/index.php\/2024\/09\/03\/sigma-lithium-to-double-grota-do-cirilo-output-capacity-with-brazilian-bank-loan\/"},"modified":"2024-09-03T15:05:52","modified_gmt":"2024-09-03T15:05:52","slug":"sigma-lithium-to-double-grota-do-cirilo-output-capacity-with-brazilian-bank-loan","status":"publish","type":"post","link":"https:\/\/dailywashingtoninsider.com\/index.php\/2024\/09\/03\/sigma-lithium-to-double-grota-do-cirilo-output-capacity-with-brazilian-bank-loan\/","title":{"rendered":"Sigma Lithium to Double Grota do Cirilo Output Capacity with Brazilian Bank Loan"},"content":{"rendered":"<p><strong>Sigma Lithium  (TSXV:SGML,NASDAQ:SGML) announced on Thursday (August 29) that a development loan of 487 million Brazilian reais<strong> will allow it to <\/strong><\/strong><strong>double the production capacity of its Grota do Cirilo lithium operation.<\/strong><\/p>\n<p>\tThe National Brazilian Bank for Economic and Social Development has made a binding commitment to provide Sigma with the funds, which will allow the company to build a second Greentech carbon-neutral plant.<\/p>\n<p>\tWith the new plant, Sigma will be able to boost it annual output of Quintuple Zero Green Lithium from 270,000 metric tons to about 520,000 metric tons. &#8216;Quintuple Zero&#8217; refers to the product\u2019s five key environmental attributes: zero carbon emissions, zero use of potable water, zero hazardous chemicals, zero tailings dams and zero use of dirty power.<span><\/span><\/p>\n<\/p>\n<p>\tLocated in Minas Gerais, Brazil, <span>Grota do Cirilo is already considered one of the largest lithium operations in the world. Phase 1 operations began commercial production in the second quarter of 2023. <\/span><\/p>\n<p>\tThe expansion is expected to enhance the company\u2019s ability to meet growing demand for lithium, particularly from the electric vehicle sector, while maintaining its alignment to global standards for sustainability.<\/p>\n<p>\tThe existing Greentech plant uses 100 percent renewable energy. Additionally, the company has implemented a dry stacking method for tailings management, eliminating the need for a tailings dam. Water used in the production process is sourced from sewage treatment to further reduce environmental impact.<\/p>\n<p>\tSigma was recognized at COP28 for its clean technology and environmental sustainability practises.<\/p>\n<p><span><\/span>The expansion project, which was approved by the company\u2019s board in April, is expected to be completed within a 12 month period, with commissioning scheduled for mid-2025. Construction activities have already been initiated.<\/p>\n<p>\tSigma recently reported its second quarter results, outlining revenues of US$45.92 million for the quarter, driven by the sale of 52,572 metric tons of Quintuple Zero Green Lithium.<\/p>\n<p><strong>Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n<div>This post appeared first on investingnews.com<\/div>\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sigma Lithium (TSXV:SGML,NASDAQ:SGML) announced on Thursday (August 29) that a development loan of 487 million&hellip;<\/p>\n","protected":false},"author":1,"featured_media":7470,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[25],"tags":[],"class_list":["post-7469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts\/7469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/comments?post=7469"}],"version-history":[{"count":0,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/posts\/7469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/media\/7470"}],"wp:attachment":[{"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/media?parent=7469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/categories?post=7469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dailywashingtoninsider.com\/index.php\/wp-json\/wp\/v2\/tags?post=7469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}