Sigma ups capex estimate for Brazil lithium project

Sigma Lithium updated the capex estimate for phase 1 of its Grota do Cirilo project in Brazil’s Minas Gerais state. 

"Phase 1 capex to construct both the Phase 1 plant and Phase 1 mine was updated to US$123.1mn, which includes all associated plant and mine infrastructure, as well as all direct and indirect costs and contingencies," the Canadian company said in a statement.

In the project’s feasibility study from November 2019, Sigma had estimated its capex at US$114mn.

Sigma also said that the base case capacity scenario for phase 1 is 230,000t/y of lithium concentrate, rising to 450,000t/y - or 67,000t of lithium carbonate equivalent - in phase 2.

Grota do Cirilo is the largest lithium hard rock deposit in the Americas, and Sigma has been producing lithium concentrate at the site on a pilot scale since 2018. 

The company is planning to start civil works this month at the project and begin production in the fourth quarter.

In Brazil, Sigma operates through subsidiary Sigma Mineração.