- Sigma Lithium (TSXV:SGML) is to ship 22,500 tons of battery-grade, carbon neutral, zero hazardous chemicals and zero tailings sustainable lithium, collectively known as triple zero green lithium, to Glencore (OTC:GLCNF)
- The collaboration with Glencore comes amidst rising demand for lithium in its use in EV batteries
- The lithium will be sourced from Sigma’s Greentech lithium plant in Brazil
- Shares of Sigma Lithium are down 5.41 per cent to C$46.48 as of 11:58 am ET, while shares of Glencore are down 3.23 per cent to US$5.55 as of 11:51 am ET
In a news release, the Vancouver-based miner said the companies have entered a collaboration that comes amid rising demand for lithium in its use in electric vehicle (EV) batteries.
Shipping is expected to begin this week from Sigma Lithium’s Greentech lithium port in Brazil as part of its collaboration with Glencore.
“Sigma Lithium and Glencore are building an EV supply chain that is focused on providing lithium materials that are responsibly sourced in an environmentally and socially sustainable manner,” Ana Cabral, CEO of Sigma Lithium, said in a statement. “Given the critical role of EVs in reducing the carbon footprint of the transportation sector, Glencore and Sigma Lithium’s joint efforts are fully aligned with our clients’ approach to responsible sourcing and supply chains built in line with the ethos of the consumer of the EV.”
The shipment is part of an agreement with Glencore that aims to build a low carbon, environmentally and socially sustainable global lithium supply chain for electric vehicles.
Sigma Lithium’s Triple Zero Green Lithium is produced from its Greentech lithium plant at its Grota do Cirilo Project in Brazil, the first lithium project in the world without a tailings dam. Phase 1 of the project is expected to produce 270,000 tons of triple zero green lithium annually.
The company is a global lithium producer dedicated to powering the next generation of electric vehicle batteries with carbon neutral, socially and environmentally sustainable chemical-grade lithium concentrate.
Sigma Lithium stock spiked last week after news the company and its wholly owned subsidiary Sigma Brazil have received multiple acquisition proposals from leading global companies.
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