04:34 PM EST, 12/03/2024 (MT Newswires) -- Sigma Lithium ( SGML ) , edged higher in after-hours Nasdaq trading after the Brazilian company at the close of trade Tuesday said it is in the process of loading 27,500 tonnes of stockpiled Quintuple Zero Green Lithium for shipment from the Port of Vitoria to IRH Global Trading in Abu Dhabi.

A statement noted the provisional price for the shipment is set at 8.25% of the battery-grade lithium-carbonate price quoted on the Guangzhou Futures Exchange as of the shipment date.

Sigma said in November -- when it implemented "several efficiency initiatives" at it Greentech Industrial Plant during the four day annual maintenance shutdown -- it achieved continuous production of over 850 tonnes per day of lithium oxide for several consecutive days, reaching peak days of 900 tonnes per day, "demonstrating the enhanced production capabilities of the Greentech Industrial Plant. As a result, the annualized production run rate reached full capacity of 270,000 tonnes and the company expects to maintain this annualized production level going forward.

Ana Cabral, chief executive of Sigma Lithium ( SGML ), in the statement said: "We are delighted with ongoing partnership with IRH in Abu Dhabi which enhances our commercial flexibility to effectively navigate lithium demand seasonality. This collaboration enables us to capitalize on every opportunity to maximize business performance and secure better lithium pricing, even in the current market environment. With Phase 1 now operating at full capacity, we are working relentlessly to replicate this industrial success as we move forward with the construction of our second Greentech Industrial Production Plant."

Sigma shares were last seen up US$0.09 to US$13.26 after hours. The closed down $0.41 to $18.55 on the Toronto Stock Exchange.