Business
Sigma Lithium Receives Binding Commitment From BNDES For A BRL 487 Million, 16-year Loan To Fully Fund Second Greentech Carbon Neutral Plant In Brazil
Highlights: Sigma Lithium has received a binding commitment from BNDES (National Brazilian Bank for Economic and Social Development) for a BRL487 million develo
About this update from Sigma Lithium Corporation
[{"type":"text","content":" Highlights: Sigma Lithium has received a binding commitment from BNDES (National Brazilian Bank for Economic and Social Development) for a BRL487 million development loan to fully fund the construction of Sigma Lithium's Second Greentech Carbon Neutral Plant in Brazil. Sigma has initiated construction activities on site while conducting detailed engineering work following the Final Investment Decision made by its Board of Directors. Based on the current construction timetable, the Company plans to complete construction and commissioning in the summer of 2025. The Development Loan provides the Company with a 16-year repayment period at a very low interest rate, a hallmark of development debt financing. The key terms and conditions are: Amount: BRL 487 million Term: 192 months (16 years) Interest Rate: BRL 7.45% per year. Grace Period: 18 months - Amortization Period: 174 months Assets in Collateral: Not required. Development Loan shall be secured by letter of credit (\"fianca bancaria\") issued by a BNDES registered financial institution. With the second Greentech plant, Sigma expects to approximately double the production capacity of its Quintuple Zero Green Lithium from the current 270,000 tonnes per year to a total of 520,000 tonnes per year. Sigma Lithium Investor Day on September 24, 2024 at Nasdaq: The Company will host an Investor Day in New York on Tuesday, September 24, 2024 at Nasdaq, featuring a series of presentations focused on Sigma Lithium's operations and growth initiatives. The Investor Day will also include a live question-and-answer session with members of the Company's senior leadership team. Presentations are scheduled to begin at 10:30 a.m. ET. The event will be concurrently webcast and accessible on Sigma Lithium's Investor Relations website at \"ir.sigmalithiumresources.com\"A replay will also be available on the Investor Relations website following the conclusion of the live event. SÃO PAULO, Aug. 29, 2024 /CNW/ -- Sigma Lithium Corporation (NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML), a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, socially and environmentally sustainable Quintuple Zero Green Lithium Concentrate received a binding commitment letter dated August 27, 2024 (\"Award Letter - Carta 64/2024 – BNDES GP/SG/ROD\") from B...