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Sigma Lithium Starts Construction Of Production Plant Foundation And Infrastructure And Orders Long Lead Items, On Schedule For Production In 2022
VANCOUVER, BC, Dec. 6, 2021 /PRNewswire/ -- HIGHLIGHTS Sigma starts construction activities on site for foundation, earth civil works and infrastructure
About this update from Sigma Lithium Corporation
[{"type":"text","content":"VANCOUVER, BC, Dec. 6, 2021 /PRNewswire/ -- \n\n \n \n \n \n \n \n\n \nHIGHLIGHTS Sigma starts construction activities on site for foundation, earth civil works and infrastructure installation of Production Plant, with equipment and 180 workers. Company is on track to begin production in the fourth quarter of 2022. Please also refer to the Company's website at www.sigmalithium.ca for updated videos of the current activities at the site The Company has the funds to meet the equity funding requirements under its proposed construction debt facility. Sigma ordered an increased number of 38 key long lead items, placing deposits to secure them and maintain the current timeline for Production Plant commissioning. Sigma Lithium Corporation (NASDAQ:SGML, TSXV:SGML) (\"Sigma\" or the \"Company\"), dedicated to powering the next generation of electric vehicle batteries with environmentally sustainable and high-purity lithium, is pleased to announce that it has commenced construction on site to build the foundation and infrastructure installation of its greentech dense media separation production plant (the \"Production Plant\"), at its wholly owned Grota do Cirilo Project (the \"Project\"). \nThe Company is also announcing that it has secured 38 critical long lead items required for the Project and begun ordering them from respective suppliers, placing deposits to secure manufacturing timetables. Prices and FEL-3 quotes for these long lead items have been in line with the FEL-2 capex estimates in the feasibility study included in the Company's most recently filed technical report.\nCompletion of this stage of the construction civil works is expected within three months, when the Brazilian sub-construction firm of Promon Engenharia Ltda. (\"Promon\") is expected to complete earthworks and the concrete plant drainage channels. This stage follows the successful conclusion last month of mobilization to site of approximately 180 workers and construction equipment. \nIn order to fund construction, the Company has the funds to meet the equity funding requirements under its proposed construction bank debt facility. The Company signed term sheets for debt and project finance with BDMG, the development bank of the Minas Gerais State and a commercial bank. It The closing of these debt transactions is pending the completion of customary due diligence ...