Sigma Lithium (SGML) is negotiating a settlement with Brazil’s Minas Gerais state government to resolve environmental disputes. The agreement targets approximately $540,000 in fines issued for issues occurring between 2013 and 2022.
The company expects to spend $1 million in capital expenditures to implement required environmental adjustments. These measures are necessary to resume activities that were partially and temporarily suspended by the state environmental agency.
Sigma Lithium denies any wrongdoing regarding the historical environmental claims. Shares of the company rose 3.8% in pre-market trading on Thursday following the announcement.