Japanese iron to steel products company Mitsui & Co., part of the Mitsui Group, is planning to infuse $30 million in Brazilian lithium deposits developer Sigma Lithium Resources’ project in Brazil.
With the projected funds, Sigma Lithium will start building a processing plant at its Grota do Cirilo asset, a hard rock lithium project in the south-eastern Brazilian province of Minas Gerais.
Mitsui & Co. is making the investment in the project for up to 55,000 annual tonnes of future battery-grade spodumene concentrate, over six years.
The investment will enable Grota do Cirilo to produce 240,000 tonnes of battery-grade spodumene concentrate per year, beginning in 2020.