Sigma Lithium evaluating strategic alternatives, shares jump more than 10%

VANCOUVER – Sigma Lithium Corp. says it is evaluating potential strategic alternatives after receiving multiple proposals.

The Canadian mining company owns the Grota do Cirilo lithium project in Brazil.

Sigma Lithium says the proposals it has received from the potential strategic partners differ in nature and structure and are subject to ongoing review and negotiations.

It says it plans to complete its strategic review this year, but warned there could be no assurance that it will result in any specific transaction or outcome.

Demand for lithium has soared in recent years as it is a key component in the batteries used for electric vehicles.

Sigma Lithium shares were up $6.44 or about 15 per cent at $49.95 in morning trading on the TSX Venture Exchange.

This report by The Canadian Press was first published Sept. 13, 2023.

Companies in this story: (TSXV:SGML)