Sigma Lithium Has Extended The Maturity Date Of Its Key Debts By Six Months.

São Paulo, October 23rd (Argus) - Canadian mining company Sigma Lithium has extended the maturity date of a key $100 million debt by six months, from the originally scheduled December to June next year.
Sigma renegotiated the maturity date of the four-year $100 million debt with the UAE fund Synergy Capital, postponing the repayment period by six months. The company stated on October 23rd that this extension provided it with more time to accelerate production and restore cash flow after closing the mine three times within the last 12 months.
According to data calculated by Argus based on the company's latest financial report, this remains Sigma's largest single debt, accounting for 77% of its total debt as of October 21st. The loan terms remain unchanged.
Sigma resumed operations at the Grotto Doce Rio mine in Brazil on October 5th and has since resumed production. However, in its press release on October 23rd, it announced two different production figures. Although the announcement mentioned that since October 5th, Sigma has produced 7,090 tons of lithium concentrate, the company's CEO Ana Cabral stated in the statement that Sigma actually produced "more than 6,400 tons" of the same product.
It is expected that the third-quarter financial report to be released on November 13th will provide a clearer picture of Sigma's current operational situation.