Sigma Lithium gains preliminary financing approval from BNDES for eco-friendly lithium project

Sigma Lithium has been, according to its information, at the forefront of environmental and social sustainability in the EV battery materials supply chain for six years. It produces Triple Zero Green Lithium from its Grota do Cirilo Project in Brazil. Photo: Sigma Lithium
Published by
Markku Björkman - 14 Feb, 2024

Sigma Lithium, a Canadian company with a market value of $3 billion in lithium production, has received a non-binding letter of intent (LOI) from the Brazilian Development Bank (BNDES) for additional financing for its Green Lithium Grota do Cirilo project.

The company plans to invest 492.4 million reais (nearly $99.4 million) in a lithium concentrate production facility in Vale do Jequitinhonha, Brazil.

Contingent

This BNDES credit line aims to expand the project, with the LOI marking the initial step towards securing the funding. However, the finalization of the Development Bank's credit line is contingent upon Sigma Lithium adhering to BNDES's operational policies.

The review process will include evaluating the proposed financing structure and the provision of satisfactory collateral by Sigma Lithium to BNDES.

Source: Sigma Lithium