Sigma Lithium Corp (NASDAQ: SGML)

Sigma Lithium is the largest producer of lithium oxide concentrate in the Americas and is dedicated to industrializing socially and environmentally sustainable lithium materials to supply global producers of batteries for energy security. The company operates one of the world’s largest lithium production sites at its Grota do Cirilo operation in Brazil. Its integrated mining and processing complex includes a mine that supplies spodumene bearing material to a state of the art GreenTech plant that uses dry stacking, recycles 100% of water, employs no toxic chemicals and runs on 100% renewable electricity. Sigma Lithium currently has a nameplate capacity to produce 270,000 tonnes of lithium oxide concentrate per year, equivalent to approximately 38,000 to 40,000 tonnes of lithium carbonate equivalent, and has maintained more than two years without a lost time injury. The company is advancing a Phase 2 expansion that is expected to nearly double its production capacity.

Sigma Lithium generates revenue primarily from the sale of lithium oxide concentrate to international battery manufacturers, with additional income from shipping services and occasional price adjustments on provisional sales. In 2025 the company reported net sales of $110.0 million, consisting of $96.1 million from lithium concentrate sales, a positive $4.2 million from provisional price adjustments and $9.7 million from shipping services revenue. The company also produces a low grade by product called Green By Products that can be sold as high purity lithium fines or used in other industries, providing an supplementary revenue stream.

Sigma Lithium holds a leading position in the lithium market as the largest producer of lithium oxide concentrate in the Americas and is regarded as a Tier 1 supplier to the global battery supply chain. Its competitive advantages stem from a fully integrated operation that combines high grade mineral resources with a proprietary GreenTech processing method that eliminates tailings, recycles water, avoids hazardous chemicals and relies on renewable electricity, thereby delivering a product with strong environmental credentials. Major competitors include Albemarle Corporation, Ganfeng Lithium, Livent Corporation and Piedmont Lithium, but Sigma Lithium differentiates itself through its focus on sustainability, long term mine life estimated at over 20 years and its ability to supply both primary concentrate and value added by products.

The company serves a diversified base of international customers that include manufacturers of electric vehicle batteries, producers of energy storage systems and other downstream users of lithium compounds. While specific customer names are not disclosed in the filing, Sigma Lithium maintains long term relationships with these industrial clients and participates in major industry conferences to monitor market trends and secure future sales.