Sigma Lithium Corporation resumed mining at its Mine 1 site in Vale do Jequitinhonha on February 2, 2026, deploying a workforce of more than 600 employees after a comprehensive restructuring of its mining operations.
The restart follows a Q4 2025 restructuring that added a larger off‑road equipment fleet and streamlined processes to match the Greentech Industrial Plant’s increased capacity. The plant is designed to produce 270,000 t of lithium oxide concentrate annually, and the mine’s full ramp‑up removes a key execution risk for the company’s 520,000‑t annual capacity target and the associated free‑cash‑flow projections.
Financing for the restructuring was partially sourced from the sale of high‑purity low‑grade lithium oxide concentrate fines. The 950,000‑t inventory sold at $140 per tonne generated proceeds equivalent to selling 70,000 t of high‑grade concentrate at $1,800 per tonne, providing the cash flow needed to support ore delivery and maintain steady production in the first quarter of 2026.
Despite the operational progress, Sigma remains in persistent losses, with high leverage and a current ratio of 0.49. The company has secured working‑capital facilities from clients and continues to seek additional financing to shore up liquidity.
CEO Ana Cabral emphasized that the restructuring underscores the company’s commitment to safety and disciplined execution amid a volatile lithium market. She noted that the restart positions Sigma to accelerate Phase 2, which aims to double production capacity and strengthen its low‑cost producer status in Brazil.
The restart also aligns with Sigma’s ESG initiatives, including microcredit programs for female entrepreneurs, water conservation efforts, and a local hiring program that prioritizes community employment.
Investors reacted positively to the restart, citing improved execution and the company’s ability to generate cash from fines, but remain mindful of liquidity constraints and high leverage.
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