- Write by:
-
Wednesday, November 15, 2023 - 18:09:31
-
154 Visit
-
Print
Mining News Pro - Sigma Lithium reported on Wednesday a revenue of $97 million for the third quarter of 2023, marking the company’s first revenue-generating quarter.
The miner reported on Wednesday sales of 38,000 tonnes of lithium concentrate and 16,500 tonnes of lithiated byproducts in Q3 2023.
Adjusted underlying earnings (EBITDA) totaled $54.6 million, for an adjusted EBITDA margin of 56%. It also achieved net income of $36.4 million and a net profit margin of 37%.
For the full year, the company expects lithium concentrate production of 130,000 tonnes.
Sigma said it achieved operational net-zero carbon emissions for all three of its shipments to date through the implementation of its environmentally sustainable production methods and the purchase of carbon credits.
The company said it continues to progress towards completing its definitive feasibility study and final investment decision for its Phase 2 and 3 expansions.
The expansion would lift the Greentech plant’s nameplate throughput potential to 766,000 tonnes from the current level of 270,000 tonnes.
The Greentech plant, located at Sigma’s Grota do Cirilo mine in Minas Gerais state, is the first lithium facility in the world to produce chemical-grade lithium concentrate without a tailings dam and with 100% reuse of the water utilized in the processing.
Sigma expects to produce 270,000 tonnes of lithium concentrate in its first year of full operation – over twice the 112,000 tonnes of lithium concentrate produced in all of Brazil last year, according to the Brazilian Mining Association.
Sigma shares were up 11% by 10:50 am EDT. The lithium developer has a market capitalization of C$4.08 billion ($2.9bn).
Short Link:
https://www.miningnews.ir/En/News/627661
China’s Tianqi Lithium said on Thursday it has formally requested that a proposed joint venture between lithium company ...
India is in talks with several countries seeking partnerships for technical help on lithium processing, said four ...
Zimbabwe’s President Emmerson Mnangagwa has re-appointed Winston Chitando as the southern African nation’s mines ...
A new report by IDTechEx states that investing in e-haul trucks could result in major savings for miners due to the ...
Chile’s state copper company Codelco defended its proposed lithium production tie-up with SQM in response to criticism ...
Nigeria has revoked 924 dormant mining titles immediately and invites investors to freely apply for the affected ...
Copper traded near $10,000 a ton, hitting a new two-year high on its way, as investors continue to pile in on a bet that ...
Adriatic Metals is taking over as the operator of the Rupice deposit development, which is part of the company’s Vares ...
A prefeasibility study for Predictive Discovery’s (ASX: PDI) Bankan gold project in Guinea gives it a net present value ...
No comments have been posted yet ...