Brazilian lithium producer Sigma Lithium has secured a US$22.4 million loan facility from state-run Banco do Brasil. This export financing will support the company's continued growth, particularly as it ramps up production at its Grota do Cirilo operation in Minas Gerais.
"We have reached a crucial point in our journey as a producer," said Ana Cabral, Sigma Lithium's co-chair and CEO. "This loan signifies our ability to access trade financing tools available to Brazil's top exporters." Cabral highlighted the company's partnership with Banco do Brasil, praising the bank's competitive interest rates and long history of supporting industrial exporters.
Banco do Brasil, in turn, sees this agreement as a vital step in its commitment to "developing the Brazilian green industrialization of future-facing battery materials." The bank views Sigma Lithium as a key player in the global lithium market, further solidifying its position as a leader in green industrialization.
Sigma Lithium began commercial production at Grota do Cirilo in the second quarter of 2023, with phase one achieving an annual capacity of 270,000 tonnes of concentrate, equivalent to 36,700 tonnes of lithium carbonate equivalent (LCE). The company has also made a final investment decision to expand its operations, nearly doubling capacity to 520,000 tonnes of concentrate through a phase two expansion.
This recent loan facility from Banco do Brasil will be a key factor in Sigma Lithium's ongoing expansion, enabling the company to further solidify its position as a leading global supplier of lithium materials. The deal also highlights the growing importance of Brazil's role in the burgeoning green economy, as demand for battery materials continues to rise.
