Sigma Lithium resumes Brazil operations after court upholds mining licenses
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Sigma Lithium (SGML) jumped 6.3% pre-market Wednesday after saying it will resume mining and processing operations at its Grota do Cirilo project in Brazil after a federal appeals court upheld its environmental licenses.
The company said the appeals court overturned an emergency order issued last month by a local judge that had suspended the licenses in a ruling connected to a lawsuit filed by Ngolo, an association claiming to represent local Quilombola communities.
The appeals court said a prolonged stoppage would generate a significant lasting negative economic impact in the Vale do Jequitinhonha region of Brazil's Minas Gerais state.
Sigma Lithium (SGML) said it is on track to scale its annualized production of lithium oxide concentrate to 330K tons by year-end 2027 and will not need to add additional capacity to meet its guidance, citing existing Mine 1 capacity in the South Pit operations and its Cleantech Industrial Plant capacity.
The plant previously demonstrated production of more than 950 metric tons/day following a technological upgrade in Q4 2024, with output exceeding 1,000 tons on several days.
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