Sigma Lithium Maintains Near-Monthly Shipment Cadence With Latest Sale Of Green Lithium To Mitsubishi, Deepens Management Bench With New CFO

Sigma Lithium Corp. SGML, the global lithium producer dedicated to powering the next generation of electric vehicles, is maintaining its near-monthly order shipment cadence, with its most recent shipment being 22,000 tons of Quintuple Zero Green Lithium to Mitsubishi Corporation RtM International Pte. Ltd ("Mitsubishi"), a 100% owned subsidiary of Mitsubishi Corporation.

By continuing to achieve near-monthly production cadence, Sigma Lithium said it increases commercial flexibility, allowing it to further its diversification strategy of selling into leading global battery supply chains. Sigma said it expects to announce additional commercial partnerships in different geographies in the fourth quarter. 

Pricing on this 12th shipment of the Quintuple Zero Green Lithium to Mitsubishi is initially set at a provisional premium floating price equivalent to 8.25% of Lithium Hydroxide quoted at LME, Sigma reports. 

Maintaining Production 

In the last few months, Sigma Lithium has been busy producing and shipping its green lithium. During the second quarter, Sigma Lithium sold 52,572t of its Quintuple Zero Green Lithium and engaged new South Korean and Japanese industrial, trading and battery manufacturing companies. The lithium producer credits the new customers to its established track record of being a reliable supplier to the battery supply chain. 

"We are very pleased with our commercial partnership and deepening relationship with Mitsubishi," said Ana Cabral, Sigma Lithium's CEO and co-chairperson. "Mitsubishi's market visibility, as a Japanese industrial conglomerate has helped Sigma Lithium successfully navigate the pronounced seasonality of demand and price swings displayed by the lithium market this summer."

Sigma Lithium credits its success to the metallurgical properties, environmental sustainability and social traceability of its Quintuple Zero Green Lithium. The company claims to be the only global producer of Quintuple Zero Green Lithium, which it says has zero carbon footprint. It does not rely on coal power, tailing dams and hazardous chemicals in the production of its green lithium. The result, says the company, is high-quality lithium that is sustainable. That checks off two boxes for electric vehicle makers who are looking to lower their emissions and source high-quality lithium to fuel the EVs of tomorrow. 

Deepening Its Management Bench With New CFO 

As part of its diversification strategy with a focus on expanding exports and trade finance, Sigma Lithium is deepening its management bench. The company is betting that bringing on the right people with the right experiences based on its current needs will save it time and drive costs lower.  

Toward that end, it's tapping Rogerio Marchini – an executive in key lithium mining destination Brazil with more than 24 years of experience – to be its new CFO and Executive Vice President of Corporate Finance. Prior to joining Sigma Lithium, Marchini was CFO of Origo, a private equity portfolio company of TPG International in the energy transition space. Marchini was in charge of a 40-person team tasked with taking the business from startup to revenue generation.  

Caio Araujo, the company's former CFO, will stay on as a Director of the Controller's Office. Meanwhile, Felipe Peres, who led Sigma Lithium to its Nasdaq listing and was on medical leave in 2023, returned as Director of Site Administration and Finance. Peres will also lead procurement and controls for the construction of Sigma Lithium's phase 2 expansion of the Greentech Lithium Processing Plant, which will double capacity to 520,000 tons of Quintuple Zero Green Lithium, the company reports. 

Second Plant Coming Online Next Year

Sigma Lithium shares that the second Greentech plant will be home to several innovations designed to increase the efficiency of its industrial process for beneficiating mineral spodumene ore into Quintuple Zero Green Lithium pre-chemical high-purity concentrate. Construction has already commenced, and completion is targeted for summer 2025. 

"We are delighted to welcome Rogerio Marchini to our senior leadership. Rogerio is a tremendous addition to our finance team, a seasoned Brazilian executive with significant experience in comparable companies encompassing key aspects of our business: energy transition and global exporting," said Cabral. "In a testament to our culture of excellence and teamwork, Rogerio will be supported by two former Sigma Lithium CFOs who have been deployed to lead critical areas within the finance department. Rogerio's appointment further bolsters the strength of our finance team."

With growth in its sights and a new CFO on its team, Sigma Lithium is delivering green lithium to EV makers around the world with a regular near-monthly cadence. With a new plant coming online soon and a focus on diversifying further, Sigma Lithium could be a green story worth watching. 

Featured photo by MiningWatch Portugal on Unsplash.

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