Published: January 25, 2023 |

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Sigma Lithium has announced the initiation of the commissioning of the Dense Medium Separation (DMS) module of the production plant (Greentech Plant) at its Grota do Cirilo project in Brazil one month ahead of schedule and within budget.

The company also announced a number of leadership changes to take the project forward. 

In a statement, Sigma said commissioning of the crushing module of the Greentech Plant is also ahead of schedule and projected to have the first ore crushed in mid-February. 

The company said it remains on track to commence commercial production in April 2023 and expects to start generating cash flow in the second quarter of this year, producing battery-grade sustainable lithium concentrate.

Elaborating on the leadership changes, Sigma said Brian Talbot will continue to lead operations as chief operating officer, Sigma said, noting that Talbot has been working with the company since 2021, leading the operating team on-site and playing an instrumental role in the execution of project commissioning. He also serves on the company’s technical committee.

Ana Cabral-Gardner, previously co-CEO, continues as CEO and will also continue as co-chair of the company’s board of directors. Cabral-Gardner has been at the helm of Sigma Lithium since 2018, leading it to become a global pioneer in environmental and social sustainability within the battery supply chain, the company added.

As part of the transition, lead independent board director Gary Litwack has been appointed non-executive co-chair of the board. Litwack currently serves as the chair of the audit committee and has been a director of the company since it went public in 2018, Sigma said.

Further, in preparation for evolving financial reporting responsibilities as the company transitions from developer to producer, Rodrigo Menck, who joined the company in 2022, has been named chief financial officer. Former CEO Felipe Peres will continue to work closely with the finance team in the capacity of senior advisor to the company, the company added. 

Sigma noted that Menck has roughly 30 years of experience in finance and capital markets. He has spent the last 15 years leading finance functions for large corporations, including most recently with Nexa Resources, the mining company of the Votorantim group in Brazil, where he served from 2019 to 2022 as CFO. 

Before his corporate experience, Sigma noted that Menck spent close to 15 years in global financial institutions such as BankBoston, Itau, WestLB, Citi and BNP Paribas. He holds an MBA in Economics from the University of Sao Paulo, is a Certified CFO by the Brazilian Institute of Financial Executives, and a certified board member by the Brazilian Institute of Corporate Governance.

Calvyn Gardner, who was formerly co-CEO and co-chair of the company, will remain on the board of directors, Sigma said.

“On behalf of the company’s board, employees and the entire Sigma team, I would like to thank Calvyn for his contributions to the company. I have personally learned a great deal from Calvyn and I am truly honoured to have served by his side at Sigma for almost seven years,” Sigma CEO Ana Cabral-Gardner in a statement.

Source: Proactive Investors

About Sigma Lithium
Sigma Lithium is a company dedicated to powering the next generation of electric vehicle batteries with environmentally sustainable and high-purity lithium. Sigma Lithium has been at the forefront of environmental and social sustainability in the EV battery materials supply chain and it is currently commissioning its wholly owned Grota do Cirilo Project in Brazil. The project is expected to produce 766,000 tonnes annually (or 104,200 LCE annually) of battery grade sustainable lithium concentrate in a state-of-the-art Greentech lithium plant that uses 100 percent renewable energy, 100 percent recycled water and 100 percent dry-stacked tailings.

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