BNDES Invests in Sigma Lithium to Establish a New Sustainable Lithium Unit
The National Bank for Economic and Social Development (BNDES) has approved a new financing package of BRL 486.7 million for Sigma Lithium. This funding is part of the New Climate Fund and aims to establish a sustainably operated lithium processing unit.
With this new investment, the company is expected to increase its lithium concentrate production to 250,000 tonnes per year, a critical mineral for electric vehicle batteries.
A Company Committed to Sustainability
Sigma Lithium is dedicated to socio-environmental sustainability. Its sustainable objectives include:
- Zero carbon production;
- No use of harmful chemicals;
- No tailings dams;
- No consumption of potable water;
- Use of clean energy.
This project approved by BNDES embodies the New Climate Fund’s objective, which is to support the green industry in technological development, productive capacity, and commercialisation of goods and services focused on decarbonisation,” said BNDES President Aloizio Mercadante in a statement.
BNDES Signs a 5-Year Agreement
This financing positions BNDES among the leading global entities seeking to bring their countries into the value-adding base industry for electric vehicle battery inputs.
The first phase of the project, projected to produce 220,000 tonnes of concentrate, is under contract with commercial partner Mitsui for a period of five years. In September, the company successfully completed its 11th shipment of 22,000 tonnes of lithium concentrate, known as Quintuple Zero Green Lithium.
It is worth noting that the New Climate Fund is linked to the Ministry of Environment and Climate Change (MMA) but is managed by BNDES. The fund has a budget of BRL 10.4 billion to be invested as follows:
- Implementation of projects;
- Acquisition of machinery and equipment;
- Technological development related to the reduction of greenhouse gas (GHG) emissions and adaptation to climate change and its effects.
__
Source: BNDES News Agency
