Exclusive: Brazil mineral rights dispute casts shadow on Sigma Lithium expansion -by Fabio Teixeira (Reuters – September 28, 2023)


RIO DE JANEIRO, Sept 28 (Reuters) – A Brazilian court injunction is halting the sale or mining of two plots of land where takeover target Sigma Lithium (SGML.V) is planning open pits, according to court documents seen by Reuters.

Vancouver-based Sigma Lithium is one of the hottest names in Brazil’s budding lithium sector – a pioneer in sustainable mining practices and, according to the firm, a potential acquisition target for some of the world’s top carmakers.

But in recent months, Sigma has been embroiled in a legal battle between the husband-and-wife pair who ran the company together until earlier this year. The couple’s ongoing divorce touched off at least five lawsuits over the businesses they built, including a dispute over some of the mineral rights where Sigma plans to build mining pits.

Reuters reviewed four previously unreported lawsuits in Brazil involving current Sigma Chief Executive Ana Cabral-Gardner and Calvyn Gardner, her husband and former co-CEO, who stepped down in January, when Sigma gave no reason for his exit.

For the rest of this article: https://www.reuters.com/markets/commodities/brazil-mineral-rights-dispute-casts-shadow-sigma-lithium-expansion-2023-09-28/