- Sigma Lithium joined the Governor of Minas Gerais and the
Deputy Minister of Mines and Energy in Brazil to ring the Opening Bell at Nasdaq
MarketSite in New York,
celebrating the launch of Lithium Valley Brazil.
- Lithium Valley Brazil is an unprecedented collaborative
effort marking the future of a more sustainable source of
lithium.
-
- The initiative is aimed at attracting capital markets and
private investments in the lithium battery supply chain while
streamlining the development and construction of projects in the
lithium mining and processing industries.
- Going forward, Lithium Valley Brazil will create optimal
business conditions to foster significant increases in the
production of high purity, battery grade environmentally
sustainable green lithium ("Green Lithium") in Brazil.
-
- The initiative will facilitate the development of a green
industrial footprint for the metal and advance social development
goals, including reducing income inequality at Vale do
Jequitinhonha.
- Federal and State Governments will ensure legal certainty
and enable regulatory simplicity, as well as streamline the
permitting process for environmentally sustainable projects, with
support from industry associations.
-
- The private and public sector will work together to lead
infrastructure projects focused on sanitation, health and education
that will benefit the people of Vale do Jequitinhonha, improving
their living conditions and reducing inequality.
- Investors and capital markets are expected to fund all
sustainable lithium projects, ancillary projects, and industry
infrastructure as well as downstream industries.
-
- As a result of this capital markets-friendly approach,
taxpayer money will be directed to social development initiatives,
following the successful Australian model.
- Participating companies are committing to setting the
highest global standards of environmental and social sustainability
in prospecting and producing the lithium.
NEW
YORK, May 11, 2023 /CNW/ -- SIGMA
Lithium Corporation ("Sigma Lithium" or the
"Company") (NASDAQ: SGML, TSXV: SGML), Sigma
Lithium Corporation, a Brazil-based company dedicated to powering the
next generation of electric vehicle batteries with Green Lithium,
and representatives from the government of Brazil celebrated the launch of Lithium Valley
Brazil by ringing the opening bell at Nasdaq MarketSite in
New York.
Located in Vale do Jequitinhonha, Minas Gerais, one of the
regions in Brazil with the lowest
human development indexes, Lithium Valley Brazil is an
unprecedented collaborative effort marking the future of a more
sustainable source of lithium. The initiative is aimed at
attracting capital markets and private investments in the lithium
battery supply chain while streamlining the development and
construction of projects in the lithium mining and processing
industries. Lithium Valley Brazil highlights Brazil's leadership in enabling the green
energy transition globally with sustainable critical minerals.
Going forward, Lithium Valley Brazil will create optimal
business conditions to foster significant increases in the
production of Green Lithium in Brazil, and facilitate the development of a
green industrial footprint for the metal while advancing social
development goals, including reducing income inequality at Vale do
Jequitinhonha.
The production of Green Lithium is expected to attract the next
generation of green downstream processing industries, building an
environmentally and socially sustainable lithium supply chain to
support the growth of electric vehicle battery factories located
all over the world.
"The growth of Lithium Valley Brazil will be our collective
contribution for a greener planet and a more just society,"
said Ana Cabral-Gardner, Sigma
Lithium's CEO and Co-Chairperson. "It will bring prosperity to
the people of Vale do Jequitinhonha by growing the lithium industry
while ensuring the social economic development of the entire
region."
Ana wrapped her opening bell remarks by closing, "Lithium
Valley Brazil is just as much about producing the lithium as it is
about the people. All of us are embracing the Lithium Valley
as partners in bringing lithium from Brazil to the world, driven by capital markets
and the private sector. The lithium valley is our legacy. Our
children and grandchildren will be proud of us in the
future."
Lithium Valley Brazil is the result of the unwavering commitment
to climate action, environmental and social sustainability of a
relentless and dedicated group of global impact investors, public
government officials and regulatory bodies, NGOs, industry
associations and civil society.
The initiative was fostered by the unprecedented collaboration
among the Government of the state of Minas Gerais, the Ministry of
Mines and Energy of the Federal Government, Brazil's National Parliament (Congresso
Nacional), Minas Gerais State Parliament (Assembleia
Legislativa Minas Gerais), Brazil's Mining Regulatory Agency (ANM), Minas
Gerais Industry Federation (FIEMG), Brazil's Mining Sector Association (IBRAM),
The Civil Society NGO Mulheres do Brasil and its microcredit
initiative Dona de Mim, executives
and employees at the four pioneer lithium companies from all over
the world: Sigma Lithium (Brazil),
Atlas Resources (USA), Latin
Resources (Australia) and Lithium
Ionic (Canada).
In honor of the occasion, Ana
Cabral-Gardner, Sigma Lithium Corporation CEO and
Co-Chairperson, joined Romeu Zema,
Governor of the state of Minas Gerais, and Vitor Saback, Deputy Minister of Mines and
Energy in ringing the Nasdaq Opening Bell.
"Lithium Valley Brazil commences with significant relevance
in the global lithium industry, anchored by Sigma Lithium, one of
the world's top producers, which is trucking to port the most
environmentally and socially sustainable lithium in the world.
Sigma Lithium materials are expected to enable the production of
610,000 electric vehicles in the first year and 1,6 million
electric vehicles in its second year," added Ana.
Federal and State Governments will ensure legal certainty and
enable regulatory simplicity as well as streamline the permitting
process for environmentally sustainable projects. With the proceeds
from the 2% of lithium royalties already collected from the
industry, the Governments will lead social sustainability
infrastructure projects focused on sanitation, health and education
that will benefit the people of Vale do Jequitinhonha, lifting
their living conditions and reducing inequality.
Investors and capital markets are expected to fund all
sustainable lithium projects, ancillary projects, and industry
infrastructure as well as downstream industries. As a result of
this capital markets-friendly approach, taxpayer money will be
directed to social development, following the successful Australian
model.
Participating companies are committing to setting the highest
global standards of environmental and social sustainability in
prospecting and producing the lithium. Industry associations, civil
society and NGOs will support the social sustainability efforts,
helping to improve the lives of the people of Vale do
Jequitinhonha.
For a replay of the Lithium Valley Ceremony at Nasdaq MarketSite
please follow the link:
https://edge.media-server.com/mmc/p/2qrcy9az
For a replay of the Nasdaq Opening Bell Ringing please follow
the link: https://livestream.com/NasdaqMedia/events/10839250
ABOUT SIGMA LITHIUM
Sigma Lithium (NASDAQ: SGML, TSXV: SGML) is a company dedicated
to powering the next generation of electric vehicle batteries with
environmentally sustainable and high-purity lithium producing the
most environmentally and socially sustainable lithium in the world
its wholly owned Grota do Cirilo Project in Brazil. The project produces Battery Grade
Sustainable Lithium concentrate in a state-of-the-art Greentech
lithium plant that uses 100% renewable energy, 100% recycled water
and 100% dry-stacked tailings and does not leave tailings
behind.
Sigma Lithium has been at the forefront of environmental and
social sustainability in the EV battery materials supply chain for
six years. Phase 1 of the project is to produce 270,000 tonnes of
Battery Grade Sustainable Lithium concentrate annually (36,700 LCE
annually). If it is determined to proceed, Phase 2 & 3 of the
project are expected to increase production to 766,000 tonnes
annually (or 104,200 LCE annually).
For more information about Sigma Lithium, visit
https://www.sigmalithiumresources.com/
Sigma Lithium
LinkedIn: Sigma Lithium
Instagram: @sigmalithium
Twitter: @SigmaLithium
FORWARD-LOOKING STATEMENTS
This news release includes certain "forward-looking
information" under applicable Canadian and U.S. securities
legislation, including but not limited to statements relating to
timing and costs related to the general business and operational
outlook of the Company including production estimates and projected
cash flows; timing for the commissioning of the Greentech Plant and
commencement of commercial production, completion of the report
relating to the Greentech Plant Expansion expectations as to the
commencement of cash flow and whether such cash flows can support
the Greentech Plant Expansion,, operational status and possible
expansion of the Greentech Plant, the Company meeting its social
and climate initiative and objectives, and other forward-looking
information. All statements that address future plans, activities,
events, estimates, expectations or developments that the Company
believes, expects or anticipates will or may occur is
forward-looking information, including statements regarding the
potential development of mineral resources and mineral reserves
which may or may not occur. Forward-looking information contained
herein is based on certain assumptions regarding, among other
things: general economic and political conditions (including but
not limited to the impact of the continuance or escalation of the
military conflict between Russia
and Ukraine, and economic
sanctions in relation thereto); the stable and supportive
legislative, regulatory and community environment in Brazil; anticipated trends and effects in
respect of the COVID-19 pandemic and post-pandemic; demand for
lithium, including that such demand is supported by growth in the
electric vehicle market; the Company's market position and future
financial and operating performance; the Company's estimates of
mineral resources and mineral reserves, including whether mineral
resources will ever be developed into mineral reserves; and the
Company's ability to develop and achieve production at its mineral
projects including that the Company will not experience any
materials or equipment shortages, any labour or service provider
outages or delays or any technical issues in the course of final
commissioning or in respect of the Greentech Plant, the expected
positive results of the engineering report. Although management
believes that the assumptions and expectations reflected in the
forward-looking information are reasonable, there can be no
assurance that these assumptions and expectations will prove to be
correct. Forward-looking information inherently involves and is
subject to risks and uncertainties, including but not limited to
that the Company may not develop its mineral projects into a
commercial mining operation; the market prices for lithium may not
remain at current levels; and the market for electric vehicles and
other large format batteries currently has limited market share and
no assurances can be given for the rate at which this market will
develop, if at all, which could affect the success of the Company
and its ability to develop lithium operations. There can be no
assurance that such statements will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. The Company
disclaims any intention or obligation to update or revise any
forward-looking information, whether because of new information,
future events or otherwise, except as required by law. For more
information on the risks, uncertainties and assumptions that could
cause our actual results to differ from current expectations,
please refer to the current annual information form of the Company
and other public filings available under the Company's profile at
www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
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SOURCE Sigma Lithium