Tesla is reportedly considering purchasing Sigma Lithium, a Vancouver-headquartered Brazilian lithium mining company, for an estimated $3 billion.
The battery metal miner is one of multiple mining options Tesla is exploring to potentially source more of its lithium-ion battery supply chain, sources told Bloomberg.
Coincidentally, the TSX Venture Exchange (TSXV) 2023 Venture 50 was released today and Sigma Lithium took the top spot in the Mining category with a share price change of 193% in 2022.
The Venture 50 list stock ranking measures market capitalization growth, share price appreciation and trading volume in 2022.
Sigma Lithium is dedicated to powering the next generation of electric vehicle batteries with environmentally sustainable and high-purity lithium.
Sigma is in construction at its wholly owned Grota do Cirilo Project in Brazil, one of the largest and highest-grade hard rock lithium spodumene deposits in the Americas.
Sigma is committed to strong ESG practices and is aiming to be net zero emissions by 2024. Its green-friendly processing plant will use 100% renewable energy, 100% recycled water and 100% dry-stack tailings.