Mitsui must fund $30 mi lithium project Sigma in MG

RIO DE JANEIRO (Reuters)-Mitsui 30 million dollars should finance a lithium project Sigma, in Minas Gerais, a development that could make the company one of the largest providers of metal in the Americas in 2020, according to an agreement posted on this Wednesday. The Sigma is conducting a feasibility study for the project, which currently includes an annual production of 240,000 tons of concentrated lithium Sigma, with quality in the manufacture of batteries, which should grow with the expansion of cars Electric. "The Sigma believes that there is significant potential to expand the production capacity," the company said. In the document, still subject to revisions, the companies agreed that Mitsui would offer a line of financing. In return, would have rights related to future sales of high quality lithium concentrate of Sigma. The funding, according to Sigma, will be used for a variety of investments for the project Orquestra Cyril, including build and install commercial production plant, as well as build your infrastructure and purchase equipment.