Shares in Sigma Lithium drop on report of Brazil court injunction

Sigma Lithium

28/09/2023 20:42

Sept 28 (Reuters) - Shares of miner Sigma Lithium
 SGML.V  erased earlier gains to close 2% lower on Thursday,
after Reuters reported on a Brazilian court injunction halting
the sale or mining of two plots where the company plans open
pits.
    Sigma shares, which were up 4% in afternoon trading, erased
gains to fall as much as 5% when the news broke, before paring
losses. 
    Vancouver-based Sigma Lithium, one of the hottest names in
Brazil's budding lithium sector, is currently looking to sell
itself. But in recent months, the company been embroiled in a
legal battle between the husband-and-wife pair who ran the
company together until earlier this year, which has cast a
shadow over Sigma's dealmaking efforts.

 (Reporting by Peter Frontini and Rodrigo Campos
Editing by Brad Haynes)
 ((Peter.Siqueira@thomsonreuters.com; +55 11 56447727;))