The announcement comes at a time of plunging lithium prices and other market changes that are affecting big and small producers alike.
Prices for the ultralight metal, essential for electric-vehicle (EV) batteries, have plunged more than 80% from its peak in early 2023. The market has been rocked by shifting expectations, from fears of scarcity to warnings of persistent excess supply in the next two to three years.
Sigma Lithium began last year a strategic review of its business, which has extended into 2024.
The Vancouver-based miner said in December it had received expressions of interest to acquire the company, its subsidiary Sigma Brazil and the Grota do Cirilo project.
“We are delighted with the overwhelming interest in our business from some of the most admired companies in the battery materials and electric vehicles industries globally, including automakers and battery manufacturers,” CEO Ana Cabral said at the…
