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Sigma Lithium Secures Premium Final Price of US$ 1,333/t For 22,000 t of Quintuple Zero Lithium, With 85% Pre-Payment For Delivery In 2 Weeks
Sigma Lithium achieved an increased premium fixed price of US$ 1,333/t (13% VAT included), equivalent to US$ 1,160/t (net of VAT) for its 8th shipment of 22,000
About this update from Sigma Lithium Corporation
[{"type":"text","content":" Sigma Lithium achieved an increased premium fixed price of US$ 1,333/t (13% VAT included), equivalent to US$ 1,160/t (net of VAT) for its 8th shipment of 22,000 tonnes for delivery within 2 weeks. Price discovery was driven through closed private bidding, aiming to maximize the value of its commercial shipment strategy with Glencore. This price is final and non-provisional and represents a meaningful increase over the previous premium prices achieved. As a reference, the final price net of VAT is equivalent to 8.75% of the LME Lithium Hydroxide CIF SÃO PAULO, March 27, 2024 /CNW/ -- Sigma Lithium Corporation (\"Sigma Lithium\" or the \"Company\") (NASDAQ: SGML, BVMF: S2GM34, TSXV: SGML), a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral and sustainable, chemical grade lithium concentrate with granulated-particles (\"Quintuple Zero Green Chemical Grade Coarse Lithium\" or \"Product\"), is pleased to announce it achieved an increased premium final price of US$ 1,333/t (13% VAT included), equivalent to US$ 1,160/t (net of VAT) for its 8th shipment of 22,000 tonnes currently being delivered to its EXW warehouse at the Port of Vitoria in Brazil. This price is final and non-provisional and represents a meaningful increase over the previous premium prices achieved by the Company. As a reference, the final price net of VAT is equivalent to 8.75% of the LME Lithium Hydroxide CIF/Fastmarkets CJK price. Price discovery was driven through closed private bidding, aiming to maximize the value of its commercial shipment strategy. Sigma Lithium will continue to adapt its marketing strategy to maximize value capture. Included in the agreement is a cash prepayment clause, with 85% of the shipment's value collected by loading. The shipment is part of a commercial distribution and marketing agreement with Glencore that aims to build a low carbon, environmentally and socially sustainable global lithium supply chain for electric vehicles. This milestone achievement represents a significant improvement in commercial terms for Sigma Lithium, consolidating our leadership in the industry as a large-scale producer of Quintuple Zero Green Chemical Grade Coarse Lithium. The premium achieved demonstrates the product's superior quality (chemically and physically quantifia...