Mine / resource · Brazil

Grota do Cirilo

RampingVerified 24 Oct 2026As of 25 Oct 2026
Owner
Sigma Lithium
Listed via
SGML
Product
Spodumene
Deposit type
Spodumene
Capacity
Nameplate 330 ktpa lithium oxide concentrate; FY27 guidance 330 kt annualized by year-end 2027; Phase 2/3 to 580/830 ktpa planned
≈ 35 kt LCE/yr (nameplate)
Location
-16.75°, -41.90°
Source
Filing used for verification

Mining-industrial operations resumed (announced 6 Oct 2026) after a Federal Court of Appeals upheld the environmental licenses that an 8 Sep 2026 local federal emergency ruling had suspended.

Ownership structure

Effective economic interest of listed owners · As of 25 Oct 2026
Sigma LithiumSGML100%Grota do CiriloMine / resource

Attributable capacity

Listed ownerStakekt SC/yrkt LCE/yr
Sigma Lithium SGML100%≈315≈35

Capacity × effective stake. kt SC ≈ kt LCE × 9.0 (grade-based, 90% recovery).

Structure: Sigma Lithium.

Value chain

Owners, buyers and the refineries on Li3atlas they feed · As of 24 Oct 2026
Listed ownersSigma LithiumSGML · 100%
Mine / resourceGrota do CiriloNameplate 330 ktpa lithium oxide concentrate; FY27 guidance 330 kt annualized by year-end 2027; Phase 2/3 to 580/830 ktpa planned
Buyers (offtakes)UndisclosedHigh-grade lithium oxide concentrate · 40,000 tpa (120,000 t total)Undisclosed (US$50M advance payment)High-grade lithium oxide concentrate · 40,000 tpa (120,000 t total)Undisclosed battery-materials company (US$96M working-capital prepayment)High-grade lithium oxide concentrate · 70,500 t

Quarterly production

As of 30 Jun 2026
020406080UnverifiedJun Q 2025: 68.4 kt SC68.4USD 442Sep Q 2025: 44 kt SC44USD 543Dec Q 2025: 3 kt SC3Mar Q 2026: 23.6 kt SC23.6Jun Q 2026: 35.4 kt SC35.4USD 452Q2 25Q3 25Q4 25Q1 26Q2 26Q3 26Cost/t

kt SC, as reported · Source: Sep Q 2024, Dec Q 2024, Mar Q 2025, Jun Q 2025, Sep Q 2025, Dec Q 2025, Mar Q 2026, Jun Q 2026

77$2,089Production (kt SC): 60.2Sales (kt SC): 57.5Sep Q 24Production (kt SC): 77Sales (kt SC): 73.9Dec Q 24Production (kt SC): 68.3Sales (kt SC): 61.6Mar Q 25Production (kt SC): 68.4Sales (kt SC): 40.4Jun Q 25Production (kt SC): 44Sales (kt SC): 48.6Sep Q 25Production (kt SC): 3Dec Q 25Production (kt SC): 23.6Sales (kt SC): 23.6Mar Q 26Production (kt SC): 35.4Sales (kt SC): 24.4Jun Q 26
Production (kt SC)Sales (kt SC)Realised price (US$/t) (US$, right axis)Unit cost (≈ US$)
Jun Q 26Mar Q 26Dec Q 25Sep Q 25Jun Q 25Mar Q 25Dec Q 24Sep Q 24
Production (kt SC)35.423.634468.468.37760.2
Sales (kt SC)24.423.6—48.640.461.673.957.5
Implied inventory change (prod − sales)+11+0—−4.6+28+6.7+3.1+2.8
Unit cost (USD/t)452——543442458——
Realised price (US$/t)$2,089$1,790—$586—$774——
Implied cash margin (US$/t)+$1,637 78%——+$43 7%—+$316 41%——

Production minus sales in the same unit: positive = stockpile built at the mine or port, negative = drawn down. Margin = realised price − unit cost converted at fixed FX. Bases can differ (price often CIF and SC6-equivalent, cost FOB per t of the actual grade, before royalties), so treat it as indicative.

Resource and mine life

As of 25 Oct 2026
Resource
3.681 Mt LCE
Reserve
2.434 Mt LCE
Grade
1.40% Li2O (M+I); reserve 1.29% Li2O
As of
15 Jan 2025

Unit cost

Basis
AISC All-In Sustaining Cost
Period
2Q 26

Cost bridge to US$/t LCE

Reported unit cost
USD 668/t SC5.0
× t concentrate per t LCE
× 8.99 (5.0% Li₂O, 90% recovery)
Mine cost per t LCE
$6,003/t LCE
+ Conversion to chemicals (assumption)
$3,500 · China Merchant Toll
Landed cost
$9,503/t LCE
Cost-curve quartile Q4 of 14 operations with a cost

The conversion, freight and royalty settings are shared with the cost curve on the map page (Economics).

Position on the cost curve

Landed US$/t LCE, same assumptions as the cost curve · As of 25 Oct 2026
Hombre Muerto West (HMW): $3,963/t LCEQarhan Salt Lake: $4,292/t LCE (implied)Cauchari-Olaroz: $5,897/t LCEYichun lepidolite belt: $6,012/t LCE (implied)Greenbushes: $6,201/t LCEPilgangoora: $7,330/t LCEMibra: $7,416/t LCEWodgina: $7,489/t LCEFinniss: $7,913/t LCEZabuye Salt Lake: $8,265/t LCE (implied)Mt Marion: $9,166/t LCEGrota do Cirilo: $9,503/t LCEKathleen Valley: $10,203/t LCENorth American Lithium: $11,166/t LCE$11,1660

$9,503/t LCE · cheaper than about 10% of costed supply

Grey: every producing mine with a cost (width = capacity). Highlighted: this asset. Lighter dashed bars are implied costs (no reported unit cost).

Milestones

As of 24 Oct 2026

Upcoming (7)

  • 13 Nov 20263Q 26 results (production, sales, realised prices, costs) due by this dateReport · source
  • 2027Phase 2 expansion resumed (designed to take capacity to ~580 ktpa)Expansion · source
  • 2027330 ktpa annualized lithium oxide concentrate production by year-end 2027 (guidance)Other · source
  • Q4 2027Plant 2 construction complete (+250 ktpa; total 580 ktpa)Expansion · source
  • 2027Phase 2 expansion to ~580 ktpaExpansion · source
  • 2027330 ktpa annualized lithium oxide concentrate (FY27 guidance)First production · source
  • Q4 2028Plant 3 construction complete (+250 ktpa; total 830 ktpa)Expansion · source

Completed (5)

  • 23 Oct 2026US$100M senior secured debt (Synergy Capital) maturity extended to June 2027Financing · source
  • 5 Oct 2026Operations restarted after environmental licences reinstatedRestart · source
  • 17 Jul 2026Partial suspension of mining and plant operations pending TAC Agreement with Minas GeraisCurtailment · source
  • Jan 2026Mining remobilized after restructuring (in-house fleet)Restart · source
  • Oct 2025Mine demobilized for restructuring (mining paused; plant reprocessed tailings)Curtailment · source

Offtakes and supply chain

As of 24 Oct 2026

Sells to

  • UndisclosedHigh-grade lithium oxide concentrate · 40,000 tpa (120,000 t total) · 3 years (signed Mar 2026); includes US$50M advance payment payable by end of June 2026 · source
  • Undisclosed (US$50M advance payment)High-grade lithium oxide concentrate · 40,000 tpa (120,000 t total) · 3 years from 2026 · source
  • Undisclosed battery-materials company (US$96M working-capital prepayment)High-grade lithium oxide concentrate · 70,500 t · during 2026 · source

Country risk · Brazil

Policy risk: Low As of 24 Oct 2026

Change history

Approved changes with their source · As of 25 Oct 2026
DateFieldChangeSource
25 Oct 2026Quarterly figuresnew: Mar Q 2024 · production 54.168 kt SC · sales 52.857 kt SCSigma Lithium 1Q24 results (Form 6-K Ex. 99.1, SEC EDGAR)
25 Oct 2026Map position-16.650°, -41.900° → -16.745°, -41.897°Sigma Mineração — RIMA Projeto Grota do Cirilo – Pegmatito Xuxa Cava Sul (Aug 2020)
25 Oct 2026production_plannew: 2027: 330 kt SC · 2Q26 results: production guidance of 330,000 t for the full year of 2027, Plant 1 only (Table 1 FY 2027 Plant 1). Corrects #339 (Oct 6 YE annualized run-rate was not calendar output). Mid/later 2026 r (as of 2026-08-14)Sigma Lithium 2Q 26 results news release, 14 Aug 2026 (Form 6-K Ex. 99.3, SEC EDGAR)
25 Oct 2026Quarterly figuresnew: Dec Q 2024 · production 77.034 kt SC · sales 73.9 kt SCSigma Lithium 4Q24 and FY2024 results (Form 6-K Ex. 99.1, SEC EDGAR)
25 Oct 2026Quarterly figuresnew: Jun Q 2024 · production 49.389 kt SC · sales 52.572 kt SCSigma Lithium 2Q24 results news release, 16 Aug 2024 (Form 6-K Ex. 99.1, SEC EDGAR)
25 Oct 2026Quarterly figuresnew: Sep Q 2024 · production 60.237 kt SC · sales 57.483 kt SCSigma Lithium 3Q24 results (Form 6-K Ex. 99.1, SEC EDGAR)
24 Oct 2026NotesMining-industrial operations resumed after Federal Court of Appeals reinstated environmental licenses (announced 6 Oct 2026); brief pause from 30 Sep 2026. → Mining-industrial operations resumed (announced 6 Oct 2026) after a Federal Court of Appeals upheld the environmental licenses that an 8 Sep 2026 local federal emergency ruling had suspended.Sigma Lithium — Full Resumption of Mining-Industrial Operations; Federal Court of Appeals Decision (6 Oct 2026)
24 Oct 2026Milestonenew: 2027 · 330 ktpa annualized lithium oxide concentrate production by year-end 2027 (guidance) Other ExpectedSigma Lithium — Full Resumption of Mining-Industrial Operations; Federal Court of Appeals Decision (6 Oct 2026)

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