Sigma Lithium Hits Record EBITDA Margin as Costs Decline
The company reported an EBITDA margin of 47% for the second quarter of 2026, the highest in its history.
Sigma Lithium Corp (SGML), the largest producer of lithium oxide concentrate in the Americas, reported record profitability for the second quarter of 2026. The company achieved an EBITDA margin of 47%, an increase from the 39% margin recorded in the first quarter of 2026.
Net revenues reached a record US$55 million, up from US$42 million in the previous quarter. This growth was supported by the sale of 24,400t of lithium oxide concentrate and a realized price of US$2,089, which rose 17% from US$1,790 in the first quarter of 2026.
The company reduced costs by over 30% while upgrading mining operations. This decline was attributed to financial discipline and a 50% growth in production volumes to 35,400t following a continuous ramp-up that began in January 2026. Plant gate costs fell 36% from the first quarter of 2026 to US$401/t, while CIF costs decreased 33% to US$452/t. All-in sustaining costs (AISC) were US$668/t, a 6% decrease from the first quarter of 2026.
Sigma Lithium reduced its total debt by 25% since the second quarter of 2025. Net debt fell to US$125 million in the second quarter of 2026 from US$134 million at the end of the first quarter. The company stated it is focused on repaying higher-cost, short-term export financing facilities and is evaluating financing alternatives to enable a pre-payment of an export prepayment agreement with Synergy, which totaled US$95 million as of June 30, 2026.
Operational activity was impacted by a partial suspension of mining and plant operations starting the week of July 17, 2026. This pause is pending the conclusion of a terms for adjustment of procedures agreement, known as a TAC Agreement, with the Minas Gerais state government.
Despite the temporary suspension, the company said production expansion remains on track and has pushed forward ramp-up guidance by three months. Sigma Lithium expects to produce 240,000t of lithium oxide concentrate within 12 months and 330,000t for fiscal year 2027. The company plans to increase installed industrial capacity by building two additional plants, targeting 580,000tpy by the end of 2027 and 830,000tpy by the end of 2028.