Sigma Lithium resumes full operations after signing TAC agreement

Sigma Lithium Corporation (NASDAQ: SGML) (TSXV: SGML) (BVMF: S2GM34) has signed a Terms for Adjustment of Procedures agreement, known as a TAC Agreement, with the State of Minas Gerais in Brazil, allowing the company to fully resume its mining and industrial operations.

According to a company statement, Sigma Lithium targets production of 240,000 tonnes of lithium oxide concentrate within 12 months, with a further target of 330,000 tonnes in fiscal year 2027. The company also said it has approved the next stage of upgrades to its haulage fleet in cooperation with manufacturer SANY, which includes 75-tonne trucks and 98-tonne excavators.

Sigma Lithium said the TAC Agreement will require approximately $1,000,000 in capital expenditure to execute environmental procedure adjustments. The company also agreed to pay up to $540,000 in fines related to environmental matters dating from 2013 to 2022.

The company stated it "vehemently denies any wrongdoing" related to the key claims connected to its operations, specifically denying that it misrepresented information filed with environmental authorities since 2018 or commercially sold lithium materials before May 2023. Sigma Lithium also denied claims that two houses located outside its licensed area were negatively impacted by its activities, though it agreed to widen and gravel access roads to those properties as part of the TAC Agreement.

The company noted that operations related to the sale of high-purity lithium fines from reprocessed tailings and other intermediate grade products continued without disruption during the partial suspension of operations.

A TAC Agreement is a standardized regulatory instrument used in Brazil between regulators and companies to resolve corporate and environmental matters, providing legal certainty by outlining required actions and deadlines.

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