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Tuesday, May 30, 2023
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Sigma Lithium and Brazil celebrate ‘Lithium Valley’ initiative

The initiative aims to increase production of “green lithium” in an environmentally and socially sustainable way

Sigma Lithium successfully produces 'green lithium' in Brazil
Dense medium separation circuit for 'green lithium', Grota do Cirilo project, Brazil. Photo via Sigma Lithium

Sigma Lithium Corporation (NASDAQ: SGML) (TSXV: SGML) and representatives from the Brazilian government rang the opening bell at Nasdaq MarketSite in New York on Thursday to celebrate the launch of Lithium Valley Brazil.

Lithium Valley Brazil is a collaborative effort to attract investment in Brazil’s lithium mining and processing industries. The initiative aims to increase production of “green lithium” in an environmentally and socially sustainable way, while advancing development in Vale do Jequitinhonha, one of Brazil’s poorest regions.

“The growth of Lithium Valley Brazil will be our collective contribution for a greener planet and a more just society,” said Ana Cabral-Gardner, Sigma Lithium’s CEO and co-chair, in her opening remarks.

“It will bring prosperity to the people of Vale do Jequitinhonha by growing the lithium industry while ensuring the social economic development of the entire region.”

Located in Minas Gerais, Brazil, Lithium Valley Brazil has brought together impact investors, government officials, NGOs and industry associations to support the development of Brazil’s lithium industry. The initiative aims to attract private capital to fund sustainable lithium and ancillary projects, allowing government funds to be directed to social development programs.

Companies involved have committed to high environmental and social standards. The production of green lithium is expected to attract downstream processing industries and support the growth of electric vehicle manufacturing around the world.

Read more: Sigma Lithium successfully produces first ‘green lithium’ in Brazil

Read more: Sigma Lithium delivers first shipment of 146 tonnes of green lithium

Sigma Lithium Brazilian Government NASDAQ Bell 1

Sigma Lithium and Brazilian government officials ring Nasdaq opening bell to celebrate the launch of the lithium valley Brazil initiative. Photo by Sigma Lithium.

In honour of the occasion, Cabral-Gardner was joined by Romeu Zema, the governor of Minas Gerais, and Vitor Saback, Brazil’s deputy minister of mines and energy, to ring the Nasdaq opening bell.

“Lithium Valley Brazil commences with significant relevance in the global lithium industry, anchored by Sigma Lithium, one of the world’s top producers, which is trucking to port the most environmentally and socially sustainable lithium in the world,” Cabral-Gardner said.

Federal and state governments aim to streamline regulations and permitting for sustainable projects. Proceeds from existing lithium royalties will fund social infrastructure like sanitation, health care and education initiatives to benefit the region.

Industry associations, NGOs and civil society will support social sustainability efforts to improve lives in Vale do Jequitinhonha. Investors and capital markets are expected to fund sustainable lithium and related projects so taxpayer funds can be directed to social programs, replicating a model used successfully in Australia.

Company stock went up by 0.63 per cent on Thursday to $52.97 on the Canadian Ventures Exchange.


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