Sigma Lithium Corporation – a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, socially and environmentally sustainable chemical-grade lithium concentrate – has announced it has received from Glencore the prepayment for its third shipment of Triple Zero Green Lithium, totaling 20,000 tonnes. The 50% prepayment reflects a premium pricing at a 9% provisional price of lithium hydroxide at LME (average China, Japan, South Korea) for the Company’s unique Triple Zero Green Lithium.
The shipment is part of a commercial distribution and marketing agreement with Glencore that aims to build a low carbon, environmentally and socially sustainable global lithium supply chain for electric vehicles.
In addition to the prepayment received from Glencore, the Company has access to trade finance green credit lines from both Santander and XP Inc (“ACC/ACE”) that can be drawn down upon delivery of its triple Zero Green Lithium to the Vitoria Port warehouses managed by Multilift. ACC/ ACEs are customary commercial banking trade finance in Brazil provided by commercial banks to exporters with counterparty clients with robust creditworthiness. Glencore is the counterparty client for Sigma Lithium in the third shipment.
Source:batteryindustry
