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Sigma Lithium Corp. Just Completed Its First Shipment of Lithium from Brazil to LG Energy Solution, a Battery Processor from South Korean LG.
The company is set to gradually ramp up activities over the next few months and reach an annual production rate of 277,000 tons of spodumene concentrate (lithium source mineral) by July. Subsequently, the company will expand to the second and third phases of the project, nearly tripling its production capacity to 766,000 tons by mid-2024.
Sigma also reported that the sale to LG Energy Solution will include production waste, which will be turned into a higher value-added product. Cabral-Gardner highlighted that 300,000 tons of fine waste from the first phase of operations will undergo “upcycling,” being transformed into a pre-chemical input for popular car batteries.
Gradual Expansion of Sigma Lithium Production
The first shipment from Sigma was scheduled for May and was expected to have a volume of approximately 15,000 tons of “green lithium.” However, the company reported that it decided to further increase the quantity of product sent and began sending waste transformed into higher value raw material.
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In 2021, Sigma obtained an operating license to sell and export lithium from the Grota do Cirilo lithium mine, located in the Jequitinhonha River Valley, in Minas Gerais. Production, which will be 100% sold abroad, started within days.
LG Energy Solution as a Major Lithium Buyer
Market Leader in Batteries, LG Energy Solution has been a major buyer of lithium to feed the growing demand for lithium-ion batteries. The company also invests in other areas of the battery production chain, including cathodes, anodes, and electrolytes.
The lithium-ion battery sector has experienced rapid growth in recent years, driven by the popularity of electric cars and portable electronic devices. Demand for lithium is expected to remain high in the coming years as battery technology improves and new applications emerge.
Sigma Lithium Establishes Itself as a Lithium Supplier for the Battery Industry
With this move, Sigma Lithium establishes itself as one of the leading lithium suppliers for the battery industry, and LG Energy Solution secures another supplier to ensure the supply of this essential raw material for its products.
The expectation is that Sigma Lithium will continue to expand its production in the coming years, strengthening its position as an important player in the lithium market. The company has been mentioned as a potential candidate for merger or acquisition by major companies in the sector, such as the Chinese Ganfeng Lithium Group or the American Tesla.
