The mortgage supplies the corporate with a 16-year compensation interval at a rate of interest of seven.45% per 12 months (under the present Brazilian sovereign rate of interest of 10.5%).
With the second plant, Sigma expects to roughly double the manufacturing capability of its Grota do Cirilo exhausting rock lithium mine from the present 270,000 tonnes per 12 months to a complete of 520,000 tonnes per 12 months.
“Having BNDES as a creditor represents the help of the federal government of Brazil for Sigma Lithium’s industrial growth plans at Vale do Jequitinhonha,” Sigma CEO Ana Cabral mentioned in a information launch.
Positioned within the mining-rich state of Minas Gerais, Grota do Cirilo comprises 77 million tonnes at 1.40% lithium oxide.
Sigma shares had been down 1.8% to $10.82 apiece at 11 am in New York on Friday, capitalizing the corporate at $1.2 billion.