07:10 AM EST, 02/24/2025 (MT Newswires) -- Sigma Lithium ( SGML ) , a global lithium producer, was at last look down 0.3% in US premarket trading on Monday after providing an update on the advancement of construction at its second greentech industrial plant that will double the production capacity of lithium oxide concentrate.

Sigma Chief Executive Ana Cabral will make a presentation at the BMO Global Metals, Mining & Critical Minerals Conference on Tuesday where she will disclose financial and operational metrics for the fourth quarter and full-year 2024 as well as guidance for 2025-2026 production volumes and 2025 costs, the company said.

For the 2024 fourth quarter, the company hit a production volume of 77,000 tonnes and various unit operating cash costs, while for 2024 it reached underlying revenue of US$181 million. The company forecast total production of 300,000 tonnes this year and 520,000 tonnes in 2026.

The company said to date it has successfully completed 100% of the foundation earthworks for the second greentech industrial plant, "staying on schedule and within budget". The first cement has been poured, and construction has advanced to civil works, including the completion of water drainage infrastructure for the second industrial site. In addition, detailed engineering with technical specifications has been completed for certain key equipment items with long manufacturing lead times (long-lead items). Procurement and contractual negotiations have been completed, and orders for these items are expected to be placed within the current quarter.

Currently, the company said, there are 100 people working on the expansion project, with plans to increase the workforce to 1,000 at peak construction. The company added it has also accelerated its homecoming program with the creation of a training center for heavy machinery operators in one of the neighboring communities.

Sigma has secured a US$100 million development bank credit line from BNDES to fully fund the construction. The company said it decided to continue advancing its construction, despite the current lithium cycle, due to its low capital expenditure intensity. It added this efficiency is driven in part by its existing infrastructure, which supports the additional greentech Industrial Plant and enables the company to fast-track construction timelines while controlling costs.