Aug. 19 at 5:16 AM
$SGML TAC Agreement is a standardized form of agreement between regulators and corporates in Brazil. It translates into “terms for adjustment of procedures”. The adjustments of environmental procedures must be mutually agreed between the regulatory body (federal or state) and the company.
Sigma Lithium estimates that the execution of the proposed adjustments of environmental procedures under the TAC Agreement will require an estimated capex of approximately US
$1,000,000 to enable the resumption of the activities that have been partially and temporarily suspended by the auditors of SUPRAM Jequitinhonha.
A significant majority of publicly traded companies in Brazil have TAC Agreements with various regulators (both federal and state), which are used to resolve corporate and environmental matters, as a TAC Agreements provide legal certainty for the company, by clearly outlining actions to be undertaken, as well as deadlines for their execution, which are mutually agreed.
