Mining DECODED
Previous edition: 10 May 2024
Share article
Get the full version straight to your inbox.
Exclusive access to our best-in-class data & intelligence
Subscribe now
Sigma Lithium boosts mineral reserves at Brazil's Grota do Cirilo
The expansion equates to an additional 22.2 million tonnes (mt) and raises the consolidated reserve balance to 77mt.
Sigma Lithium has announced a 40% increase in proven and probable mineral reserves at its Grota do Cirilo lithium project in Vale do Jequitinhonha, in the Brazilian state of Minas Gerais.
This expansion equates to an additional 22.2mt, raising the consolidated reserve balance to 77mt at 1.40% lithium oxide (Li2O), up from 54.8mt at 1.44% Li2O.
The reserve increase is concentrated within the combined phases three and four mines, which will extend the lifespan of Sigma Lithium's integrated mining and beneficiation operations to an estimated 25 years.
This includes two processing lines with a combined capacity of 520,000t per annum, of which the second line, currently under construction, will contribute 250,000t.
The company noted that the enhanced mineral reserve balance paves the way for sustained, low-cost lithium production growth at the Grota do Cirilo operations.
It supports the potential addition of a third and fourth processing facility or an extended operational life for the company's planned lithium throughput.
Sigma Lithium anticipates maintaining its phase one low-operating-cost model as it progresses into subsequent phases, given the consistent mineralogy of the reserves and their accessibility through open-pit mining operations.
The company has clarified that the reported increase in mineral reserves does not represent the full potential of the mineral resources conversion, as previously announced on 31 January 2024.
Sigma Lithium remains committed to its mineral and geological development work, aiming to further convert its resources into reserves over time.
Sigma Lithium co-chairperson and CEO Ana Cabral said: “This significant increase in mineral reserves demonstrates our commitment to continuously invest in Brazil to unlock the full economic potential of our mineral concessions.
“This includes our commitment to build in the country, in the same region where the lithium is mined, a second state-of the-art, large-scale lithium processing green industrial plant.
“We believe Brazil is poised to become one of the global leaders in lithium production as a result of its optimum conditions for integrated lithium industrial processing and mining: legal certainty in a consolidated mining code, rule of law, straightforward permitting processes, tropical climate, green and affordable renewable energy and power lines infrastructure.”
Latest news
Australia invests A$566m to map mineral deposits, energy sources
The investment will help generate data, maps and tools that will guide new discoveries and sustain the economy.
Queensland invests A$20m into Mt Carbine Tungsten Mine
The loan facility is set to fast-track EQR’s expansion plans at the Mt Carbine Tungsten Mine.
Outback to acquire S2 Resources' Finnish gold projects
For this deal, the company has agreed to pay C$1.5m ($1.1m) in cash and C$5.5m in Outback Goldfields shares.
Metals Australia announces contracts to support Quebec graphite project
These contracts are aimed at enhancing the project’s potential for battery-grade graphite production.
Tertiary gets environmental nod for Zambia copper project
The approval allows the company to commence mineral exploration activities at the project.
US Gold receives operating permit for Wyoming gold project
This approval for the project is subject to conditions including a $5.1m reclamation performance bond.
In our previous edition
Mining Decoded
Standard Lithium partners with Equinor on sustainable lithium extraction
09 May 2024
Mining Decoded
Piedmont gets state regulator permit for North Carolina lithium mine
08 May 2024
Mining Decoded
Bonterra Resources raises $8.54m in private placement
07 May 2024
Newsletters in other sectors
Aerospace, Defence & Security
Automotive
Banking & Payments
Medical Devices
Travel and Tourism
Search companies, themes, reports, as well as actionable data & insights spanning 22 global industries
Access more premium companies when you subscribe to Explorer