Sigma Lithium announced it has successfully reached its second shipment target and closed a new US$10 million credit facility with Santander. The company reaffirmed its full year production guidance, remains on track to achieve nameplate production capacity by the end of the third quarter 2023 as previously announced, and reported second quarter 2023 results.

During the quarter, ramp-up of Phase 1 production continues to advance on schedule and the company remains on track to achieve 2023 production guidance of 130,000 tonnes of Triple Zero Green Lithium, with consistent annualized production of 270,000 tonnes of Triple Zero Green Lithium expected to be achieved by the end of Q3 2023.

As previously reported, Sigma Lithium successfully delivered its first shipment consisting of 15,000 tonnes of Triple Zero Green Lithium and 16,500 tonnes of Green By-Products on July 27, 2023, at a price of approximately US$3,500 per tonne and US$350 per tonne, respectively. Sigma Lithium received a $31.8 million pre-payment in Q2 2023 in connection with this shipment. The company's second shipment of 15,000 tonnes is at Vitoria Port awaiting departure.

As production at the Greentech Plant continues to accelerate, Sigma Lithium expects to execute upcoming shipments including 15,000 tonnes of Triple Zero Green Lithium in early September, 30,000 tonnes of Triple Zero Green By-Products by mid-September, and 18,000 tonnes of Triple Zero Green Lithium by the end of September.

The company expects to begin recognizing revenue from the sale of Triple Zero Green Lithium and Green By-Products in Q3 2023 and expects to report positive operating profit for Q3 2023, as revenues from the sale of its products are expected to exceed operating costs.

Sigma Lithium also successfully closed the first Green ACE Credit Line with Santander Brazil for R$50 million (US$10 million), demonstrating the Company's operational and credit strength and ESG reputation in Brazil, where it is regarded as a "new operational paradigm" for the entire metals and mining industry.