Sigma Lithium signs $30 mln pre-payment with Mitsui & Co

By IM Staff
Published: Friday, 05 April 2019

Canada-based miner Sigma Lithium Resources has signed a deal with Mitsui & Co. to raise a significant amount of the capital expenditures it needs to construct the concentration plant at its spodumene operations in Brazil, the company said on Friday April 5.

The company will receive a pre-payment of $30 million for up to 55,000 tonnes of lithium concentrates over six years, with rights to a supplementary 25,000 tonnes, the note read. This contract is extendable for an additional five years and the first tranche of $3 million has already been paid....