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| Sigma Lithium |
Sigma Lithium posts record production and sales at Grota do Cirilo, confirming its position among the world’s top lithium mines.
Grota do Cirilo Becomes Fifth-Largest Lithium Mine Globally
Sigma Lithium achieved record quarterly lithium concentrate output at its Grota do Cirilo mine in Brazil, reaching 77,000 tonnes in Q4 2024. This marked a 28% increase over the previous quarter and brought 2024 annual output to 240,800 tonnes, more than double the 2023 volume. The Canada-based producer also sold 236,000 tonnes during the year, a 130% surge, according to its earnings report.
Despite falling global lithium prices, the mine solidified its status as the fifth-largest lithium operation worldwide, thanks to consistent production and strong demand.
Strong Profit Amid Price Declines and Operational Efficiency
Sigma Lithium sold its lithium concentrate at an average price of $900/t, down 31% from 2023 because of market oversupply. However, the company still achieved a $32 million operating profit, citing low production costs and reduced freight rates. Shipping costs dropped $11/t quarter-on-quarter, further supporting margins.
The company expects 2025 production to reach 300,000 tonnes, with plans to ramp up to 520,000 tonnes by 2026 following completion of a second processing plant.
Sigma also confirmed a 40% increase in regional lithium reserves, supporting a projected 22-year mine life.
The Metalnomist Commentary
Sigma Lithium’s performance reflects how efficiency, location, and expansion strategy can sustain profitability amid commodity price volatility. With Grota do Cirilo now among the world’s top five lithium assets, the company is well-positioned to supply EV battery materials during the next growth cycle.
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