Sigma Lithium recorded net revenues of US$55 million in the second quarter of 2026 from the sale of 24,400 tonnes of lithium oxide concentrate, supported by a record EBITDA margin of 47% at its Grota do Cirilo operation in Brazil.

The second-quarter financial performance improved from a 39% EBITDA margin in the first quarter of 2026. Gross and operating margins remained high at 60% and 32% respectively. The realized price for lithium oxide concentrate reached US$2,089 per tonne, marking a 17% increase compared to US$1,790 per tonne in the previous three-month period.

Production costs decreased across the board as output expanded 50% from the first quarter to reach 35,400 tonnes, supported by the primarization of mining operations and equipment upgrades. Plant gate costs fell 36% to US$401 per tonne compared to the first quarter, while CIF costs dropped 33% to US$452 per tonne. Total all-in sustaining costs decreased 6% to US$668 per tonne, returning to levels last seen in the third quarter of 2025.

Total debt declined, with net debt dropping to US$125 million at the end of the second quarter from US$134 million at the end of the first quarter, driven by a focus on repaying higher-cost short-term export financing facilities. Total debt has declined 43% over the past two years. Sigma Lithium finished the period with a cash position of US$17 million and continued to receive advanced payments from a previously announced US$96 million offtake agreement.

Mining and plant operations have been temporarily paused since July 17, 2026, as part of a partial suspension pending the conclusion of a terms for adjustment of procedures agreement with the Minas Gerais state government. The TAC Agreement addresses environmental enforcement matters and fines totaling US$540,000, alongside an estimated US$1 million in compliance capital expenditure primarily for the revegetation of waste rock piles near the south mining pit. Sigma Lithium expects to conclude the agreement in the near term and resume mining activities, while sales of reprocessed lithium fines from tailings have continued without disruption.

Grota do Cirilo hosts the fifth-largest industrial-mineral complex for lithium oxide concentrate globally. Following the production ramp-up, the company has brought forward its 12-month production guidance of 240,000 tonnes by three months. Sigma Lithium provided full-year production guidance of 330,000 tonnes for 2027, assuming Plant 1 operates throughout the year, which exceeds the facility's original annual nominal capacity of 270,000 tonnes due to productivity improvements in the reprocessing circuit.

Sigma Lithium is advancing a phased expansion strategy at Grota do Cirilo. Construction of the second industrial plant is scheduled for completion by the end of 2027, following a schedule adjustment due to the temporary operational suspension. The company also expects to initiate construction of a third industrial plant next year, with completion targeted by the end of 2028. Plants 2 and 3 are designed to add 250,000 tonnes of annual capacity each, taking total industrial capacity to 830,000 tonnes per year.

Within the surrounding district, Lithium Ionic Corp. reported on its Bandeira lithium project in June 2026, securing construction-phase water access and advancing engineering and procurement workstreams.

Read the full announcement: Sigma Lithium Announces Record 2Q 26 Results: EBITDA Margin of 47%, Decrease of over 30% in Costs; TAC Agreement Negotiations Underway