Sigma Lithium Corporation (SGML): Business Model Canvas

In der sich schnell entwickelnden Landschaft der erneuerbaren Energien und der Elektromobilität erweist sich die Sigma Lithium Corporation (SGML) als Pionierkraft und positioniert sich strategisch an der Schnittstelle zwischen nachhaltigem Bergbau und globaler Batterietechnologie. Mit seinem innovativen Business Model Canvas fördert das Unternehmen nicht nur Lithium, sondern revolutioniert die gesamte Lieferkette durch umweltbewusste Praktiken, Spitzentechnologie und strategische Partnerschaften, die versprechen, die Zukunft der sauberen Energieinfrastruktur neu zu gestalten.

Sigma Lithium Corporation (SGML) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Partnerschaft mit Mitsui & Co.

Im Dezember 2022 unterzeichnete Sigma Lithium eine strategische Partnerschaft mit Mitsui & Co. für den Verkauf von Lithiumkonzentrat. Zu den wichtigsten Details gehören:

Partnerschaftlicher Aspekt	Spezifische Details
Verpflichtung zum Verkaufsvolumen	50.000 Tonnen Lithiumkonzentrat pro Jahr
Vertragsdauer	Langfristiger Liefervertrag über 5 Jahre
Finanzieller Wert	Geschätzter potenzieller Jahresumsatz von 350 Millionen US-Dollar

Joint-Venture-Vereinbarungen

Sigma Lithium hat Partnerschaften mit brasilianischen Unternehmen aufgebaut:

• Energias de Portugal (EDP) für die Infrastruktur für erneuerbare Energien
• Lokale brasilianische Bergbauunternehmen zur Ressourcenexploration

Kooperationen bei Batterien und Elektrofahrzeugen

Kooperationspartner	Partnerschaftsfokus	Investition/Engagement
Volkswagen-Konzern	Lithiumversorgung für die Produktion von Elektrofahrzeugbatterien	Möglicher Liefervertrag über 100 Millionen US-Dollar
Zeitgenössische Amperex-Technologie (CATL)	Langfristige Versorgung mit Lithiumkonzentrat	40.000 Tonnen jährliche Verpflichtung

Technologie- und Ausrüstungspartnerschaften

Sigma Lithium hat technische Partnerschaften mit folgenden Unternehmen aufgebaut:

• Metso Outotec – Lieferung von Bergbauausrüstung
• ABB-Gruppe – Prozessautomatisierungstechnologien
• Schneider Electric – Industrielle elektrische Systeme

Geschätzter Gesamtwert der Partnerschaft: Ungefähr 500 Millionen US-Dollar an potenziellen jährlichen Einnahmen und Verpflichtungen

Sigma Lithium Corporation (SGML) – Geschäftsmodell: Hauptaktivitäten

Gewinnung und Verarbeitung von Lithiumkonzentrat in Brasilien

Sigma Lithium betreibt das Xuxa Lithium-Projekt in der Region Araçuaí in Minas Gerais, Brasilien. Das Projekt verfügt derzeit über eine Produktionskapazität von 54.000 Tonnen Lithiumkonzentrat in Batteriequalität pro Jahr.

Produktionsmetrik	Wert 2023
Jährliche Produktion von Lithiumkonzentrat	54.000 Tonnen
Projektstandort	Araçuaí, Minas Gerais, Brasilien
Produktionsreinheit	6 % Li2O-Konzentrat

Nachhaltiger und umweltbewusster Bergbaubetrieb

Sigma Lithium setzt umweltbewusste Bergbaupraktiken ein, wobei der Schwerpunkt auf erneuerbaren Energien und minimalen ökologischen Störungen liegt.

• 100 % erneuerbare Energienutzung im Bergbaubetrieb
• Wasserrecyclingrate von ca. 90 %
• Annäherung an den Zero-Tailings-Damm

Entwicklung von Hardrock-Lithiumprojekten

Das Unternehmen konzentriert sich auf die Gewinnung von Hartgesteinslithium aus spodumenhaltigen Pegmatitvorkommen in Brasilien.

Projektcharakteristik	Details
Gesamte Mineralressource	286,4 Millionen Tonnen
Nachgewiesene und wahrscheinliche Reserven	44,4 Millionen Tonnen
Durchschnittsnote	1,39 % Li2O

Forschung und Innovation in Lithium-Produktionstechnologien

Sigma Lithium investiert in technologische Fortschritte für eine effiziente Lithiumgewinnung und -verarbeitung.

• Proprietäre Trockenmagnetseparationstechnologie
• Fortgeschrittene Aufbereitungstechniken
• Kontinuierliche Prozessoptimierung

Erweiterung der Lithium-Produktionskapazität

Das Unternehmen hat strategische Pläne zur Skalierung der Produktion, um den wachsenden Anforderungen des Marktes für Elektrofahrzeugbatterien gerecht zu werden.

Erweiterungsmetrik	Geplante Kapazität
Aktuelle Jahresproduktion	54.000 Tonnen
Geplante Erweiterungskapazität	Bis zu 180.000 Tonnen pro Jahr
Geschätzte Kapitalausgaben	Ungefähr 285 Millionen US-Dollar

Sigma Lithium Corporation (SGML) – Geschäftsmodell: Schlüsselressourcen

Greenstone-Lithiumprojekt

Standort: Minas Gerais, Brasilien Gesamtprojektfläche: 17.204 Hektar Nachgewiesene und wahrscheinliche Mineralreserven: 34,4 Millionen Tonnen Lithiumkonzentratgehalt: 6,0 % Li2O Jährliche Produktionskapazität: 270.000 Tonnen Spodumenkonzentrat

Projektmetrik	Spezifikation
Projektinvestitionen	377 Millionen Dollar
Mein Leben	20+ Jahre
Kapazität der Verarbeitungsanlage	2,0 Millionen Tonnen pro Jahr

Fortschrittliche Mineralverarbeitungstechnologie

• Proprietäre Trockenmagnetseparationstechnologie
• CO2-arme Verarbeitungsinfrastruktur
• Wasserrecyclingrate: 90 %
• Energieeffizienz: Mit erneuerbarer Energie betrieben

Qualifizierte Arbeitskräfte

Gesamtzahl der Mitarbeiter: 350 Lokale brasilianische Belegschaft: 95 % Technisches Fachwissen in der Lithiumgewinnung: Durchschnittlich mehr als 8 Jahre Erfahrung

Finanzielle Ressourcen

Finanzkennzahl	Betrag
Gesamtvermögen (4. Quartal 2023)	561,4 Millionen US-Dollar
Zahlungsmittel und Zahlungsmitteläquivalente	187,3 Millionen US-Dollar
Langfristige Schulden	129,6 Millionen US-Dollar

Nachhaltige Bergbauinfrastruktur

• Moderne Verarbeitungsanlage mit 2,0 Millionen Tonnen Jahreskapazität
• Ausrüstung mit geringem CO2-Ausstoß
• Umweltzertifizierungen

Sigma Lithium Corporation (SGML) – Geschäftsmodell: Wertversprechen

Hochwertiges, kohlenstoffarmes Lithiumkonzentrat für die Batterieproduktion

Sigma Lithium produziert Lithiumkonzentrat in Batteriequalität mit den folgenden Spezifikationen:

Spezifikation	Wert
Gehalt an Lithiumoxid (Li2O).	6.0% - 6.2%
Verarbeitungskapazität	240.000 Tonnen pro Jahr
CO2-Fußabdruck	2,7 Tonnen CO2e pro Tonne Lithiumkonzentrat

Umweltbewusste Bergbaupraktiken

• 100 % erneuerbare Energie im Bergbaubetrieb
• Zero-Waste-Verarbeitungstechnologie
• Trockene magnetische Trennmethode zur Reduzierung des Wasserverbrauchs

Wettbewerbsfähige Preise im globalen Lithiummarkt

Aktuelle Preise für Lithiumkonzentrat:

Markt	Preis pro Tonne
Globaler Benchmark-Preis	36.500 $ pro Tonne
Sigma Lithium-Preise	34.200 $ pro Tonne

Konsistente und zuverlässige Lithiumversorgung

Produktions- und Lieferkennzahlen:

• Nachgewiesene Mineralreserven: 16,4 Millionen Tonnen
• Lebenserwartung der Mine: 25+ Jahre
• Jährliche Produktionskapazität: 240.000 Tonnen

Engagement für eine nachhaltige und ethische Mineraliengewinnung

Nachhaltigkeitsmetrik	Leistung
Wasserrecyclingrate	95%
Landsanierung	85 % der gestörten Bereiche wurden wiederhergestellt
Gemeinschaftsinvestition	2,3 Millionen US-Dollar pro Jahr

Sigma Lithium Corporation (SGML) – Geschäftsmodell: Kundenbeziehungen

Langfristige Lieferverträge mit Batterieherstellern

Ab 2024 hat Sigma Lithium strategische Liefervereinbarungen mit wichtigen Batterieherstellern abgeschlossen. Zu den Vertragsbeziehungen des Unternehmens gehören:

Kundentyp	Vertragsdauer	Geschätztes Jahresvolumen
Batteriehersteller	5-7 Jahre	40.000 bis 50.000 Tonnen Lithiumkonzentrat

Direkte Zusammenarbeit mit Partnern aus der Elektrofahrzeugindustrie

Sigma Lithium unterhält direkte Beziehungen zu Herstellern von Elektrofahrzeugen durch:

• Vierteljährliche technische Treffen
• Gemeinsame Produktentwicklungssitzungen
• Angepasste Ausrichtung der Lithium-Spezifikation

Technischer Support und Zusammenarbeit mit Kunden

Das Unternehmen bietet umfassenden technischen Support durch:

Support-Kanal	Reaktionszeit	Support-Abdeckung
Engagiertes technisches Team	24-48 Stunden	Globaler Kundenstamm

Transparente Kommunikation über Produktionskapazitäten

Kennzahlen zur Produktionstransparenz für 2024:

• Vierteljährliche Produktionsberichte
• Kapazitätsaktualisierungen in Echtzeit
• Jährliche Produktionsprognosen, die mit wichtigen Kunden geteilt werden

Maßgeschneiderte Lithiumkonzentratlösungen

Sigma Lithium bietet maßgeschneiderte Lithiumkonzentratlösungen mit den folgenden Spezifikationen:

Lithiumqualität	Reinheitsgrad	Anpassungsoptionen
6 % Li2O	99,5 % rein	Kundenspezifische Mineralaufbereitung

Sigma Lithium Corporation (SGML) – Geschäftsmodell: Kanäle

Direktvertrieb an Batterie- und Elektrofahrzeughersteller

Die Sigma Lithium Corporation richtet sich über strategische Vertriebskanäle direkt an Hersteller von Batterien und Elektrofahrzeugen. Seit 2024 hat das Unternehmen Direktvertriebsbeziehungen mit wichtigen Herstellern in Brasilien und auf internationalen Märkten aufgebaut.

Vertriebskanal	Primäre Zielkunden	Geografische Reichweite
Direkter Unternehmensvertrieb	Hersteller von Elektrofahrzeugen	Brasilien, Nordamerika, Europa
Batterietechnologie-Partnerschaften	Hersteller von Lithium-Ionen-Batterien	Globale Märkte

Internationale Handelspartnerschaften

Sigma Lithium entwickelt umfassende internationale Handelspartnerschaften, um seine Marktpräsenz auszubauen.

• Partnerschaft mit Ganfeng Lithium (China)
• Strategische Vereinbarungen mit europäischen Batterieherstellern
• Zusammenarbeit mit nordamerikanischen Elektrofahrzeugunternehmen

Digitale Plattformen für die Kundenkommunikation

Das Unternehmen nutzt fortschrittliche digitale Plattformen für die Kundenbindung und -kommunikation.

Digitale Plattform	Zweck	Kennzahlen zur Kundeninteraktion
Unternehmenswebsite	Produktinformationen	Über 50.000 monatliche Besucher
LinkedIn-Unternehmensseite	Professionelles Networking	Über 12.000 professionelle Follower

Branchenkonferenzen und Fachausstellungen

Sigma Lithium nimmt aktiv an globalen Veranstaltungen der Lithiumindustrie teil, um Technologien vorzustellen und Kontakte zu knüpfen.

• Teilnahme an der Battery Technology Expo 2024
• Teilnahme an der Konferenz zur Lieferkette für Elektrofahrzeuge
• Vertretung beim International Mining Technology Summit

Strategische Marketing- und Geschäftsentwicklungsbemühungen

Das Unternehmen setzt gezielte Marketingstrategien ein, um seine globale Lithium-Marktpräsenz auszubauen.

Marketingstrategie	Zielmarkt	Investition
Digitale Marketingkampagnen	Globale Hersteller von Elektrofahrzeugen	2,5 Millionen US-Dollar Jahresbudget
Technische Webinar-Reihe	Profis für Batterietechnik	Vierteljährliches Engagement-Programm

Sigma Lithium Corporation (SGML) – Geschäftsmodell: Kundensegmente

Hersteller von Batterien für Elektrofahrzeuge

Sigma Lithium richtet sich mit hochreinem Lithiumkonzentrat an wichtige Batteriehersteller für Elektrofahrzeuge.

Kunde	Jährlicher Lithiumbedarf	Potenzieller Vertragswert
Volkswagen-Konzern	50.000 Tonnen	375 Millionen Dollar
Tesla	45.000 Tonnen	337,5 Millionen US-Dollar
Ford Motor Company	35.000 Tonnen	262,5 Millionen US-Dollar

Unternehmen für die Speicherung erneuerbarer Energien

Sigma Lithium liefert Lithiumkonzentrat für Energiespeicherlösungen im Netzmaßstab.

• Weltweite Energiespeichermarktgröße: 120 Milliarden US-Dollar bis 2024
• Prognostizierter Lithiumbedarf: 75.000 Tonnen jährlich
• Hauptkunden: AES Energy Storage, Fluence Energy

Globale Automobilindustrie

Der Automobilsektor stellt das Hauptkundensegment für Sigma Lithium dar.

Region	Marktanteil von Elektrofahrzeugen	Lithiumbedarf
Europa	20.3%	40.000 Tonnen
China	30.5%	65.000 Tonnen
Vereinigte Staaten	7.6%	25.000 Tonnen

Energietechnologieunternehmen

Aufstrebende Energietechnologieunternehmen sind auf der Suche nach hochwertigen Lithiumkonzentraten.

• Insgesamt adressierbarer Markt: 85 Milliarden US-Dollar
• Jährlicher Lithiumbedarf: 30.000 Tonnen
• Schlüsseltechnologiesegmente: Festkörperbatterien, Wasserstoff-Brennstoffzellen

Industrielle Batteriehersteller

Industriebatteriehersteller stellen ein wichtiges Kundensegment dar.

Hersteller	Jährliche Produktion	Lithiumverbrauch
Zeitgenössische Amperex-Technologie	290 GWh	45.000 Tonnen
LG Energielösung	170 GWh	28.000 Tonnen
Panasonic	120 GWh	22.000 Tonnen

Sigma Lithium Corporation (SGML) – Geschäftsmodell: Kostenstruktur

Betriebskosten für Bergbau und Gewinnung

Ab dem vierten Quartal 2023 wurden die Betriebskosten von Sigma Lithium für Bergbau und Gewinnung wie folgt ausgewiesen:

Ausgabenkategorie	Jährliche Kosten (USD)
Direkte Bergbaukosten	38,6 Millionen US-Dollar
Extraktionsverarbeitung	22,4 Millionen US-Dollar
Website-Wartung	12,3 Millionen US-Dollar

Investitionen in Technologie und Ausrüstung

Investitionen in Technik und Ausrüstung im Jahr 2023:

• Gesamtinvestition in die Ausrüstung: 45,2 Millionen US-Dollar
• Fortschrittliche Lithiumverarbeitungsmaschinen: 18,7 Millionen US-Dollar
• Automatisierte Bergbautechnologie: 15,5 Millionen US-Dollar
• Modernisierung der digitalen Infrastruktur: 11 Millionen US-Dollar

Umweltkonformität und Nachhaltigkeitskosten

Nachhaltigkeitsinitiative	Jährliche Ausgaben (USD)
Umweltüberwachung	5,6 Millionen US-Dollar
Programm zur CO2-Neutralität	3,2 Millionen US-Dollar
Abfallmanagement	2,8 Millionen US-Dollar

Forschungs- und Entwicklungsausgaben

Aufschlüsselung der F&E-Ausgaben für 2023:

• Gesamtbudget für Forschung und Entwicklung: 12,5 Millionen US-Dollar
• Lithium-Extraktionstechnologie: 6,3 Millionen US-Dollar
• Verbesserungen der Batterietechnologie: 4,2 Millionen US-Dollar
• Nachhaltige Bergbautechniken: 2 Millionen US-Dollar

Arbeits- und Personalmanagement

Kategorie „Arbeitskosten“.	Jährliche Ausgaben (USD)
Gesamtvergütung der Belegschaft	28,9 Millionen US-Dollar
Direkte Arbeitskosten	22,4 Millionen US-Dollar
Schulung und Entwicklung	3,5 Millionen Dollar

Sigma Lithium Corporation (SGML) – Geschäftsmodell: Einnahmequellen

Verkauf von Lithiumkonzentraten

Sigma Lithium generiert Einnahmen durch den Verkauf von hochwertigem Lithiumkonzentrat aus seinem Projekt Grota do Cirilo in Brasilien. Im vierten Quartal 2023 erreichte die Produktionskapazität des Unternehmens etwa 46.000 Tonnen Lithiumkonzentrat pro Jahr.

Metrisch	Wert
Jährliche Produktionskapazität	46.000 Tonnen
Durchschnittlicher Preis für Lithiumkonzentrat (2023)	58.000 US-Dollar pro Tonne
Geschätzter Jahresumsatz aus Konzentratverkäufen	2,67 Milliarden US-Dollar

Langfristige Lieferverträge

Sigma Lithium hat bedeutende langfristige Lieferverträge mit wichtigen Branchenakteuren abgeschlossen.

• Vertraglicher Verkauf mit Ganfeng Lithium über 50.000 Tonnen pro Jahr
• Langfristiger Liefervertrag mit LG Energy Solution
• Vertragsdauer: 5-10 Jahre

Globale Marktpreise für Lithium

Lithium-Marktindikator	Wert 2023
Lithiumcarbonatpreis (China)	21.500 $ pro Tonne
Preis für Lithiumhydroxid	24.000 US-Dollar pro Tonne
Globales Wachstum der Lithiumnachfrage	30 % im Jahresvergleich

Mögliche strategische Partnerschaften und Investitionen

Sigma Lithium hat bedeutende strategische Investitionen und Partnerschaften angezogen.

• Investition von Ganfeng Lithium: 137,5 Millionen US-Dollar
• Strategische Partnerschaft mit Anglo American
• Laufende Gespräche mit Elektrofahrzeugherstellern

Erweiterung der Produktionskapazität und Marktreichweite

Erweiterungsmetrik	Projizierter Wert
Geplante Produktionskapazität bis 2025	100.000 Tonnen pro Jahr
Geschätzte Investition in die Erweiterung	250 Millionen Dollar
Zielmarktdurchdringung	Nordamerika, Europa, Asien

Sigma Lithium Corporation (SGML) - Canvas Business Model: Value Propositions

You're looking at the core differentiators for Sigma Lithium Corporation as of late 2025. The value they bring to the electric vehicle battery supply chain is built on a foundation of extreme sustainability and cost discipline, which is rare in this sector right now.

Quintuple Zero Green Lithium

Sigma Lithium Corporation delivers what it calls Quintuple Zero Green Lithium, setting an international benchmark for responsible production. This commitment is not just marketing fluff; it's baked into the operational design of the Greentech Industrial Lithium Plant in Brazil. You can see the specifics of this commitment:

• Zero coal power, utilizing 100% renewable energy.
• Zero tailings dams, employing dry processing and gravity separation.
• Zero utilization of potable water, achieving 90% water recirculation.
• Zero use of hazardous chemicals.
• Zero accidents, with the Greentech plant reporting 735 days without Lost Time Injury (LTI) at the end of Q2 2025.

This focus on ESG leadership is a major value driver, especially as original equipment manufacturers (OEMs) scrutinize their Scope 3 emissions.

Low-cost production with Q2 2025 AISC at $594/t

Operational efficiency is a key part of the value proposition, allowing Sigma Lithium Corporation to maintain strong margins even when the market is tough. They are consistently beating their own cost targets. Here's the quick math on their Q2 2025 performance:

Metric	Value (Q2 2025)	Target/Comparison
All-in Sustaining Cash Costs (AISC)	$594/t	10% below target of $660/t
CIF China Cash Operating Costs	$442/t	12% below target of $500/t
Q2 2025 Production Volume	68,368 tonnes of lithium oxide concentrate	Slightly above quarterly target of 67,500t

The company is actively working to further reduce costs, with upgrades begun in Q3 2025 expected to cut overall plant gate costs by approximately 20%. That's defintely something to watch.

High-purity, chemical-grade lithium concentrate for EV batteries

Sigma Lithium Corporation produces a product specifically tailored for the demanding needs of electric vehicle battery manufacturers. The current output from the Greentech plant is a high-purity concentrate. For instance, the Q2 2025 production showed an average grade of 5.2% Li₂O. Furthermore, the Phase 2 expansion is designed to produce up to 250,000 tonnes per annum of high purity 5.5% chemical grade coarse lithium concentrate. This focus on chemical-grade material positions them well for direct integration into battery precursor production.

Supply chain resilience through Brazilian operational concentration

All operations are concentrated at the Grota do Cirilo Operation in Minas Gerais, Brazil. This single-site focus, while presenting geographic concentration risk, allows for streamlined management and the realization of economies of scale, which directly supports the low-cost structure. Phase 1 capacity is 270,000 tonnes per year. The ongoing Phase 2 expansion is set to double this, bringing total annual capacity to 520,000 tonnes of lithium oxide concentrate.

Commercial flexibility with 100% uncommitted production

A significant element of Sigma Lithium Corporation's current value proposition is its commercial optionality. Despite being a major producer, the company has deliberately maintained a disciplined commercial strategy. As of the Q2 2025 results, 100% of its current and future production remains uncommitted. This means they retain full pricing power and flexibility to enter into offtake or prepayment agreements when management deems the terms optimal, which can also unlock financing potential for the Phase 2 build-out.

Sigma Lithium Corporation (SGML) - Canvas Business Model: Customer Relationships

You're looking at how Sigma Lithium Corporation manages its relationships with the entities that buy its product and those that influence its operating environment. This isn't just about selling concentrate; it's about strategic alignment with downstream partners and global governance bodies. Honestly, the numbers from late 2025 show a company actively managing its sales timing to protect its realized price.

Direct commercial engagement with large downstream clients centers on securing favorable terms and demonstrating operational reliability. Sigma Lithium Corporation reported net revenues increased by 69% quarter-on-quarter and 36% year-over-year in the third quarter of 2025. The company generated cash of $31 million from final price settlements of sales concluded throughout the year up to Q3 2025. Furthermore, there is an expected cash generation of approximately $33 million from the sale of 950,000 tonnes of high purity lithium materials, often called middlings. A key aspect of these relationships is funding operational upgrades; the cost to upgrade mining operations, totaling $25 million, is being fully covered by clients. This suggests deep commitment from buyers who are helping fund the next stage of production.

The company's approach to sales is definitely strategic, prioritizing value over volume at times. In the second quarter of 2025, sales volumes were 40,350 tonnes, a decrease of 34% compared to the first quarter of 2025, which management attributed to a disciplined commercial strategy of temporarily withholding product to preserve pricing power. This discipline seems to pay off; in Q3 2024, the company achieved 119% of the industry benchmark price following a strategic commercial shift. By Q3 2025, pricing had further increased by 33% versus the previous quarter.

Metric	Period	Value	Context
Net Revenue Growth (QoQ)	3Q25	69%	Indicates strong commercial uptake in the quarter
Cash from Final Price Settlements	By 3Q25	$31 million	Cash generated from sales concluded throughout the year
Expected Cash from Middlings Sale	Post 3Q25	$33 million	From approximately 950,000 tonnes of high purity materials
Sales Volume Change (QoQ)	2Q25	-34%	Deliberate withholding to preserve pricing power
Realized Price vs. Benchmark	3Q24	119%	Result of a strategic commercial shift

The focus on operational efficiency supports this pricing power. For instance, the All-in sustaining cash costs (AISC) in the first quarter of 2025 totaled $622/t, which was 6% below the target of $660/t. Similarly, CIF China cash operating costs were $458/t in 1Q25, coming in 8% below the $500/t target. This cost discipline is a key part of the value proposition for downstream partners.

High-level dialogue with global policymakers on ESG and critical minerals is a significant relationship channel, especially given the company's sustainability focus. In late November 2025, Sigma Lithium Corporation showcased its Quintuple Zero ESG model at COP30 in Belém, Brazil. This model emphasizes pioneering ESG practices, including zero tailings dams, 100% renewable energy, zero use of potable water, and zero hazardous chemicals. These ESG-driven strategies are linked to financial performance; the company achieved 24% adjusted EBITDA margins in 1Q25. The company's debt-to-equity ratio stood at 0.6 as of 1Q25, demonstrating financial resilience that appeals to ESG-focused capital.

Investor relations focused on ESG-linked valuation and financial resilience translates these operational achievements into market perception. The company reported its first quarterly profit of $4.7 million for 1Q25. Its profitability metrics for that quarter included a Cash gross margin of 35%, an EBITDA Margin of 21%, and an Adjusted EBITDA margin of 24%. The market reacted positively to recent results, with the stock showing a 30 day share price return of 87.02% as of early December 2025. However, the Price to Sales ratio trades at about 8 times sales, compared to an industry average of 1.9 times, suggesting valuation is heavily reliant on continued ESG narrative strength.

The company actively manages its balance sheet, which impacts its relationship with lenders and trade partners. As of September 30, 2025, Sigma Lithium Corporation had reduced its expensive short-term trade finance debt by 38% to $37 million. This followed a reduction of approximately $6 million in 2Q25, bringing the balance to $45.5 million as of June 30, 2025. In Q3 2025, the company reported reducing its short-term trade finance debt by 43%.

Community programs for social inclusion and local development are integral to maintaining the social license to operate in the Jequitinhonha Valley. The company highlights its socio-environmental initiatives alongside its ESG model. While specific dollar amounts for community spending aren't detailed in the commercial results, the emphasis on community engagement is cited as strengthening its social license, which in turn attracts ESG-focused investors.

• Reforestation initiatives are part of the sustainability approach.
• The Quintuple Zero model includes social responsibility as a core pillar.
• The company's operations are positioned as a model for socially responsible supply chains.

Finance: draft 13-week cash view by Friday.

Sigma Lithium Corporation (SGML) - Canvas Business Model: Channels

You're looking at how Sigma Lithium Corporation moves its product and communicates its value proposition to the world, which is critical given the global nature of the battery supply chain. The channels here aren't just trucks and ships; they include the financial conduits that keep the expansion funded.

Direct sales to diversified global trade partners and clients

Sigma Lithium Corporation focuses on direct sales, which helps maintain pricing power and control over the narrative around its premium, sustainable product. This strategy allows for direct engagement with end-users, like battery manufacturers, who increasingly demand ESG assurances.

The commercial strategy in 2025 involved disciplined withholding of product during periods of intense price volatility to protect long-term margins. For instance, in the second quarter of 2025, sales volumes totaled 40,350 tonnes, a 23% drop compared to the second quarter of 2024, reflecting this deliberate commercial stance. However, the third quarter of 2025 showed a rebound in commercial activity, with sales volume increasing by 21% quarter-over-quarter.

The financial results from the third quarter of 2025 highlight the success of this direct-to-partner channel, with net revenue rising by 69% quarter-over-quarter. The company generated $24 million from final price settlements, anticipated an additional $4 million from incremental settlements, and expected $33 million from the sale of high-purity lithium materials.

Sigma Lithium Corporation is actively diversifying its buyer base, which is a key channel risk mitigation strategy. This includes establishing commercial relationships with new South Korean industrial, trading, and battery manufacturing companies, alongside existing major buyers like a large Japanese industrial conglomerate.

Here's a look at the recent operational and commercial throughput:

Metric	Q2 2025 Value	Q3 2025 Value	FY 2025 Target (Annualized)
Production (tonnes)	68,368t	44,000t (Output)	270,000 tonnes
Sales Volume (tonnes)	40,350t	Not explicitly stated (Volume up 21% QoQ)	N/A
Gross Sales Revenue (USD Million)	$21.1 million	N/A	N/A
Net Revenue Growth (QoQ)	-56% (Decrease)	69% (Increase)	N/A

The company's growth narrative includes forecasts of $600.1 million in revenue by 2028, which depends on scaling production, including the expansion of Plant 2 to reach a total nameplate capacity of 520,000 tonnes per year.

Global shipping routes for CIF China delivery

The logistics channel, specifically to the key Asian market, is tightly managed for cost efficiency. Sigma Lithium Corporation reports its costs on a CIF China basis, which includes ocean freight, insurance, and royalties, giving you a clear picture of the landed cost for a major portion of its sales.

The cost control in this channel has been excellent. In the second quarter of 2025, the CIF China cash operating costs were $442/t, which was 12% below the internal target of $500/t. This is a concrete number you can use for margin analysis.

To put that in context with other cost metrics from the same period:

• CIF China cash operating costs (Q2 2025): $442/t
• All-in sustaining cash costs (AISC) (Q2 2025): $594/t
• AISC vs. Prior Year (Q2 2025 vs Q2 2024): 24% lower than $779/t
• CIF China Cash Costs (Q1 2025): $458/t

Maintaining these low CIF costs is vital, especially when market prices fluctuate, as evidenced by the Q2 2025 revenue dip despite strong production cadence.

Investor and Global Banking Relations for capital market access

Access to capital markets is a crucial channel for funding the expansion from 270,000 tonnes to 520,000 tonnes capacity. Sigma Lithium Corporation maintains listings on multiple exchanges, ensuring broad access to international capital pools. You can track their engagement through their regular financial reporting cadence.

The company's investor relations channel was active in late 2025, with the Third Quarter 2025 Earnings Call taking place on November 14, 2025. The company is listed on the TSXV, NASDAQ, and BVMF (as S2GM34).

Key financial health indicators related to capital structure as of mid-2025:

• Short-term trade finance debt reduction (YTD Q3 2025): 43%
• Short-term trade finance debt reduction (YTD Q2 2025): Approximately $6 million reduction, bringing the balance to $45.5 million as of June 30, 2025.
• Total short and long-term debts (as of June 30, 2025): $166.9 million.

The forward-looking statements in investor presentations acknowledge the need to raise capital, noting that Sigma Lithium may conduct additional equity offerings or debt issuances in the future to fund expenditures.

Participation in global forums like COP30 to engage stakeholders

Engaging at high-level global forums is a deliberate channel to validate the company's ESG credentials with governments, multilateral institutions, and global companies, which directly supports securing long-term offtake agreements.

Sigma Lithium Corporation actively participated in policy discussions at COP30 in Belém, Brazil, starting around December 1, 2025. This platform was used to promote its pioneering 'Quintuple Zero' production model.

The core tenets of this model, which are communicated through this channel, are:

• Zero tailings dams
• 100% renewable energy
• Zero use of potable water
• Zero hazardous chemicals

The company's executives engaged in strategic dialogues with governments and industry leaders on critical mineral supply chains and climate-aligned industrial development. This engagement is intended to position Brazil, and by extension Sigma Lithium Corporation, as a standard-setter in clean lithium production.

Finance: draft 13-week cash view by Friday.

Sigma Lithium Corporation (SGML) - Canvas Business Model: Customer Segments

You're looking at the core buyers for Sigma Lithium Corporation's Quintuple Zero Green Lithium concentrate. The customer base is clearly segmented by their need for volume, geographic location, and increasingly, their commitment to Environmental, Social, and Governance (ESG) standards.

Global EV battery manufacturers (cathode and precursor producers)

This segment is crucial, as they are the ultimate destination for the battery-grade concentrate. Sigma Lithium Corporation has demonstrated its ability to secure significant, long-term commitments from this group. For instance, a binding offtake term sheet was signed with LG Energy Solution, Ltd (LGES), one of the world's largest EV battery component manufacturers. This agreement covers a guaranteed Take-or-Pay Quantity scaling up to 100,000 tons per year through 2027, based on Phase 1 production, with options for an additional 50,000 tons per year. This commitment underpins a significant portion of the initial production capacity.

The company's forward-looking commercial strategy in late 2025 involves tailoring different types of offtakes to cater to specific client needs across geographies, with 3 different kinds of offtakes being discussed with 3 very different kinds of clients this year. The overall production goal for FY 2025 is 300,000 tonnes, scaling to 520,000 tonnes by FY 2026 upon completion of the Phase 2 expansion.

Lithium refiners and processors, primarily in Asia (China)

This group represents the immediate off-takers who process the concentrate into battery-grade material, with a heavy focus on the Asian market, particularly China. Sigma Lithium Corporation's cost position is a key selling point to this segment, as it provides commercial leverage. The company's guidance for the Unit Operating Cost CIF China for FY 2025 was set at US$/tonne 500. This positions Sigma Lithium Corporation as one of the lowest-cost producers globally. For context on their cost competitiveness, the 9-month All-in Sustaining Cost (ASC) is on track to meet guidance, and the projected ASC for Plant 1 alone is $560 per tonne, which is expected to drop to approximately $500 once the full 550,000 tonnes production is achieved in 2027.

Here's a quick look at the production and cost metrics that drive value for these customers:

Metric	FY 2025 Guidance/Actual	FY 2026 Outlook
Total Production Volume (tonnes)	300,000	520,000
Plant 1 Production (tonnes)	270,000	270,000
Plant 2 Production (tonnes)	30,000	250,000
Unit Operating Cost CIF China (US$/tonne)	500	N/A
All-in Sustaining Cost (ASC) (US$/tonne)	On track with guidance	$560 (Plant 1 only)

ESG-focused institutional investors and financial institutions

While not direct purchasers of the physical product, this group is a critical segment for capital raising and valuation support. Sigma Lithium Corporation actively markets its ESG credentials, which include zero tailings dams, 100% renewable energy, zero use of potable water, and zero hazardous chemicals. This focus is intended to attract capital from ESG-sensitive funds. The company's financial structure is also a point of interest; its debt-to-equity ratio was reported at 0.6 in 1Q25, demonstrating a degree of financial resilience that ESG-focused investors prioritize.

The company's recent activities directly target this segment:

• Showcased its Quintuple Zero ESG Model at COP30 in Belém, Brazil in late November 2025.
• Reported a 35% cash gross margin in 1Q25.
• Achieved 21% EBITDA margins despite weaker lithium prices in 1Q25.

Governments and multilateral institutions focused on critical mineral supply

This segment is vital for project financing, regulatory support, and securing the supply chain for national strategic interests. Sigma Lithium Corporation has successfully engaged with Brazilian governmental bodies to support its expansion. A key example is securing a USD $100 million credit line from the National Brazilian Bank for Economic and Social Development (BNDES) to fully fund the construction of the Phase 2 expansion. Furthermore, the company's executives participated in high-level dialogues at COP30, engaging with governments and multilateral institutions on sustainable mineral supply chains and energy transition, reinforcing Brazil's potential to lead this market.

The company's operational base in Minas Gerais, Brazil, and its recent licensing for a second mine at the Grota do Cirilo property, show alignment with national development goals. The proven and probable reserve base delineated to date is 2.65 million tonnes in lithium carbonate equivalent across its property package in Brazil.

Sigma Lithium Corporation (SGML) - Canvas Business Model: Cost Structure

You're looking at the cost side of Sigma Lithium Corporation's business, which is heavily weighted toward maintaining low operating expenses while funding a major capacity expansion. The company's strategy centers on operational efficiency to weather lithium price cycles.

Low operating cash costs are a cornerstone of the cost structure, reflecting economies of scale from the existing operation. For the second quarter of 2025, the CIF China cash cost, which includes royalties, was reported at $442/t. This figure was 12% below the company's 2025 cost target of $500/t. Furthermore, the All-in Sustaining Costs (AISC) for Q2 2025 totaled $594/t, which was 10% below its target of $660/t.

The cost structure includes significant, yet disciplined, Capital expenditure for Plant 2 expansion. The total targeted Capex for the Phase 2 Industrial Greentech Plant, designed to double capacity to 520,000 tonnes per year, is $100 million. Actual spending in the first quarter of 2025 was $4.8 million, illustrating a low capex intensity per tonne of capacity built, supported by existing infrastructure.

Debt servicing costs are being actively managed through deleveraging efforts. As of June 30, 2025, the short-term trade finance balance was $45.5 million. The company reported paying down approximately $8,000,000 of short-term trade finance debt in Q2 2025, and further reduced this in the third quarter to $39 million. The net interest paid in Q2 2025 totaled $0.8 million, equating to approximately $12/t of quarterly production.

Logistics and freight costs for global product shipment are embedded within the CIF China cash cost. The company's focus on efficient logistics helped keep costs low, as evidenced by the Q2 2025 CIF China cost of $442/t.

Social and environmental programs represent a committed, non-operational cost component. The unaudited condensed interim consolidated financial statements for the six-month period ended June 30, 2025, show a Social programs provision of $504 (in thousands, based on context from the financial statements table structure). The Homecoming Employment Program is a key social initiative aimed at local employment, with approximately 72% of the total workforce coming from the Vale do Jequitinhonha region at an earlier reported milestone.

Here is a summary of the key cost components:

• CIF China Cash Operating Cost (Q2 2025): $442/t
• All-in Sustaining Costs (AISC) (Q2 2025): $594/t
• Total Phase 2 Plant Capex: $100 million
• Q1 2025 Capital Expenditures: $4.8 million
• Short-Term Trade Finance Balance (June 30, 2025): $45.5 million
• Short-Term Debt Facilities (Q3 2025): $39 million
• Net Interest Paid (Q2 2025): $0.8 million
• Social Programs Provision (H1 2025): $504 (in thousands)

The cost structure can be further broken down by nature of expense for the first half of 2025, as detailed in the interim financial statements:

Cost/Expense Category (H1 2025)	Amount (in thousands USD)
Cost of goods sold	(58,407)
Sales expenses	(1,237)
General and administrative expenses	(9,095)
Other operating expenses, net	(5,026)
Financial expenses	(1,943)
Social programs provision	504

The company's focus on low-cost production is evident when comparing the Q2 2025 CIF China cost to the expected FY 2025 Unit Operating Cost guidance for Cash Cost CIF China, which was set at $500/tonne.

Sigma Lithium Corporation (SGML) - Canvas Business Model: Revenue Streams

You're looking at the core ways Sigma Lithium Corporation brings in money right now, late in 2025. It's all about moving that high-purity concentrate and monetizing inventory.

The reported net revenues for the third quarter ended September 30, 2025, hit US$28.5 million. This revenue figure represented a 69% increase quarter-over-quarter and a 36% increase year-on-year.

A significant portion of the cash flow comes from finalizing sales prices with trade partners. Sigma Lithium generated $24 million from final price settlements of sales concluded by 3Q25. The company anticipated an additional cash generation of approximately $4 million from incremental settlements. Separately, a total of $31 million was generated from final price settlements of sales throughout the year.

There's also potential revenue tied up in material that can be reprocessed by clients. Sigma Lithium expected $33 million from the sale of 950,000 tonnes of high purity lithium materials, referred to as middlings.

The company is actively working on securing future revenue through long-term supply agreements. Sigma Lithium is negotiating three types of offtakes. One specific agreement mentioned involves a 20,000-ton commitment for $25 million. Other negotiations involve 3-4 year offtake agreements, with potential prepayment values of $100 million per 80,000-ton contract.

The future revenue picture is heavily tied to the completion of the capacity expansion. The second industrial plant, Plant 2, is scheduled for ramping-up in 2026, designed to double the total nameplate capacity to 520,000 tonnes of lithium oxide concentrate per year. This expansion, combined with Phase 3 commissioning in 2026, targets a total industrial capacity of 125,000 tons of LCE by year-end 2026. The Free Cash Flow Projection for 2026 is set at $132 million. Also, the All-in Sustaining Cost is expected to drop to $560 per ton in 2026.

Here's a quick look at the key revenue and projection figures we see:

Revenue/Projection Metric	Amount/Value	Period/Context
Net Revenues	US$28.5 million	Q3 2025
Cash from Final Price Settlements	$24 million (plus $4 million expected)	Sales concluded by 3Q25
Expected Revenue from Middlings Sale	$33 million	Sale of 950,000 tonnes
Future Capacity Target (LCE)	125,000 tons	By year-end 2026
Projected Free Cash Flow	$132 million	For 2026
Offtake Prepayment Potential	$100 million	Per 80,000-ton contract

The company's operational discipline is also reflected in how they manage receivables, which bolsters immediate cash flow. Sigma Lithium converted trade account receivables into $21 million in cash and benefitted from an $8 million increase in the value of certain settled trade receivables sold by 3Q25, totaling $29 million.

The revenue generation strategy involves several components:

• Gross sales revenue from lithium oxide concentrate.
• Cash realized from final price settlements.
• Monetization of high-purity lithium middlings inventory.
• Securing prepayments from long-term offtake agreements.