Sigma Lithium Corporation (SGML) has achieved remarkable financial results for the second quarter of 2024. The corporation, dedicated to sustainable lithium production, reported a 22% reduction in cash costs and increased FOB margins to 54%, exceeding guidance ahead of schedule.

Sigma Lithium Enhances Operational Efficiency

Sigma Lithium has successfully celebrated its inaugural year of full operations at Grota do Cirilo. The company reached a regular shipment cadence of 22,000t, matched by a high operational employee safety index. Strategic sales in new markets such as Japan and South Korea contributed to the company’s robust cash margins.

Operational Milestones in Q2

During the second quarter, Sigma Lithium sold 52,572t of its high-purity lithium concentrate, achieving significant shipments. The strategic enhancements made at the Greentech Plant are expected to boost third-quarter sales to around 60,000 tonnes.

Sigma’s Expanding Commercial Presence

The diversification of Sigma’s sales relationships highlights its growing reliability in the battery supply chain. Internal logistics optimizations have led to greater efficiency and an approximate $20/t reduction in shipment costs.

Financial Highlights for Q2 2024

Sigma’s reported revenue reached $45.9 million, with a realized CIF sales price of $894/t. The company noted a decrease in cash unit operating costs to $364/t. On an FOB Vitoria basis, costs were $424/t, while CIF China equivalent costs were $515/t. Efficiencies at the Greentech Plant are expected to further reduce unit costs.

Phase 2 Greentech Plant Expansion

On April 1, 2024, Sigma’s board approved the Phase 2 expansion, anticipating an additional 250,000t production capacity. This expansion aligns with the company’s commitment to environmentally sound operations.

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