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Sigma in Talks with Tesla & Other Automakers

Metal News - Published on Tue, 17 Sep 2019

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Brazil based lithium startup Sigma Lithium Resources Corp Chief Executive Calvyn Gardner said that it has held talks with Tesla Inc and other automakers about supplying the key battery ingredient in the coming years. Sigma, which recently received its license to begin hard rock lithium mining in the Brazilian state of Minas Gerais, met with Tesla supplier Ganfeng Lithium at the automaker's request. But it is holding off on a deal because of the terms the Chinese company is demanding.

Mr Gardner on the sidelines of a Brazilian mining conference said that "There's a bunch of other things that they need, not just prices, but other demands which are a little more complicated that sort of restricts Sigma to almost supplying purely into China. It's not really what we think we should be doing over the long term."

He added that Sigma would prefer to ship its lithium directly to Tesla in California, although that can only happen once makers of cathodes, one of the two main battery components, set up shop in the United States.

Although lithium prices have slumped in the past year, Sigma and other producers hope to benefit from a long-awaited boom in electric car production when prices of the vehicles become more competitive.

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Posted By : Rabi Wangkhem on Tue, 17 Sep 2019
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