Data Insights: Brazil's major lithium projects

Although the price of lithium has been volatile this year, projects in Brazil have been progressing and the expectation is that they will continue to do so in 2025.

"Despite the hurdles, I believe that at the end of the day there is a more positive trend for the lithium segment and for the minerals associated with the energy transition," mining consultant Pedro Galdi told BNamericas. 

According to Galdi, the main hurdle facing minerals for the energy transition is likely to be the Donald Trump administration, which is expected to focus more on the oil industry rather than clean energy.

"Of course, we're talking about the richest country in the world, but I think that even Trump, using all his power as president of the United States, won't be able to reverse the global trend associated with the energy transition. We may perhaps see some delay in the trend, but not a reversal," added Galdi.

Projects in Brazil, meanwhile, are making headway.

Sigma Lithium, owner of the Grota do Cirilo project in Minas Gerais state, announced in early December that the mine had reached full capacity at an annual rate of 270,000t lithium concentrate, or about 37,000t/y lithium carbonate equivalent (LCE).

And recently the company said it received three environmental licenses for its Barreiro mine.

Barreiro is the second mine within the Grota do Cirilo property, and the firm plans to integrate it to feed its industrial plant in the coming years.

The permits obtained by the firm are an operational license, a preliminary license and an installation license.

"This significant milestone secures the long-term continuous mining operations and spodumene ore feedstock supply for the company's Greentech industrial plant throughout the 16-year term of the BNDES financing," Sigma said in a statement.

In August, the development bank authorized financing of 487mn reais (US$78.5mn) for Sigma "to implement a lithium beneficiation unit."

Expansions of Grota do Cirilo are planned to take output to 920,000t/y or 125,000t LCE by the end of 2026.

Other lithium initiatives in Brazil are also advancing. BNamericas takes a look at the key projects using the forecast tool of our project database. All the projects are in Minas Gerais state.

Itinga (Bandeira and Outro Lado deposits)

Canadian junior Lithium Ionic announced recently the start of engineering, procurement and construction management services for its Bandeira lithium project.

Hatch was awarded the project’s engineering and design services, while Brazil’s Reta Engenharia was selected to provide construction management services.

According to the BNamericas database, construction of the project, with estimated capex of US$266mn, is expected to start in the third quarter of next year and operations in the third quarter of 2026.

In addition, the firm received a non-binding letter of interest from the Export-Import Bank of the United States to provide full debt financing for the project.

According to a May 2024 feasibility study, the Bandeira deposit is a potential 14-year mine producing 178,000t/y spodumene concentrate.

Salinas (Colina deposit)

Australia's Pilbara Minerals is planning to invest up to US$313mn in the Salinas lithium project. In August, the firm announced a US$370mn all-share transaction to acquire project owner Latin Resources Limited.

According to the BNamericas database, the project has been under construction since the first quarter of 2024, and ramp-up is expected for the second quarter of 2026.

A preliminary economic assessment announced by Latin Resources in September 2023 outlined the potential for Salinas to be developed in two stages to produce average annual spodumene concentrate of about 499,000t.

Neves

US-based exploration company Atlas Lithium received the operating permit for its Neves project in October.

Neves requires estimated capex of US$49.5mn.

Project construction is expected in the first quarter of next year and operations start-up in the third quarter of 2025. Targeted nameplate capacity is up to 150,000t/y spodumene concentrate.