Sigma Lithium Resources, a Canadian-based mining company developing a world class hard rock lithium project in Brazil plans to become an important participant in the supply chain of the flourishing electric vehicle-bus industry in the country as well as in the lithium battery supply chain globally.
According to the Financial Times, Sigma is raising up to C$30m ($23.8m) through a Toronto Stock Exchange listing, as part of a plan to invest C$85m for initial production of 240,000 tonnes a year by 2020.
Its Brazilian subsidiary Sigma Mineração, is a mining company encompassing several concessions with full mining licenses. Sigma’s mines have historically produced lithium, feldspar, tantalite and cassiterite since the 90’s. Sigma’s concessions encompass one of the highest grade hard rock spodumene pegmatites in the world and span over 30,000 acres.
Sigma Mineração is located in the southeast of Brazil, the hub of the country’s economic acrivity and its automotive vehicle industry.