Sigma Lithium Resumes Full Operations After Signing TAC Agreement
SGML has more than doubled off its 52-week low of $4.615.
Summary
Sigma Lithium has signed a TAC Agreement with the State of Minas Gerais, ending the partial suspension of its mining and industrial operations. The company is now fully back online and reaffirms its target of producing 240,000 tonnes of lithium oxide concentrate within 12 months, with 330,000 tonnes expected in FY27. The agreement requires approximately US$1 million in capex and payment of up to US$540,000 in fines for environmental matters dating from 2013 to 2022. Sigma Lithium denies wrongdoing but has agreed to widen and gravel access roads for two houses outside its licensed area. This follows the July 22 announcement that negotiations were underway; the signing removes a key operational overhang. The company also greenlighted a haulage fleet upgrade with SANY, adding 75t trucks and 98t excavators to increase capacity.
At the time of this announcement, SGML was trading at $12.03 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $4.62 to $24.48. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: TMX Newsfile.