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Sigma Lithium Says Brazil Project Is Worth $5.1 Billion

  • Company is in talks with bank to boost project financing
  • Expanded lithium project could have a 13-year operating life
Canadian minerals explorer Sigma Lithium Corp. has valued its undeveloped project in Brazil at $5.1 billion, with the mining operations having the potential to deliver battery-grade lithium for 13 years once it’s built.

Canadian minerals explorer Sigma Lithium Corp. has valued its undeveloped project in Brazil at $5.1 billion, with the mining operations having the potential to deliver battery-grade lithium for 13 years once it’s built.

Photographer: SeongJoon Cho/Bloomberg
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Canadian minerals explorer Sigma Lithium Corp. has valued its undeveloped project in Brazil at $5.1 billion, with the mining operations having the potential to deliver battery-grade lithium for 13 years once it’s built.

The project, known as Grota do Cirilo, is expected to produce 531,000 metric tons of lithium per year from two deposits, the company said in a Thursday statement. Sigma Lithium, which has a market value of C$1.97 billion ($1.5 billion), is building the project in phases, with the initial mine already under construction. An April feasibility study anticipated an eight-year operating life for the first phase, which it valued at $1.6 billion.