Brazilian miner Sigma Lithium said on Wednesday its strategic review process has advanced to the final stage and will likely be completed by the end of the year.
Sigma announced in September it was evaluating strategic alternatives for the whole company, including its Brazilian unit.
Lithium miners have seen their stocks tumbling this year as weak electric-vehicle (EV) sales growth led to high inventory levels and pressured prices of the metal, a key ingredient in making EV batteries.
Canada-listed shares of Sigma have fallen 8.2% so far this year.
Sigma said its review process is advancing to the final round, with consortiums formed among certain strategic parties.
The company earlier said it had received multiple proposals for its Grota do Cirilo project in Brazil, Sigma Brazil and parent company Sigma Lithium.
The miner was working with Bank of America to coordinate talks with parties interested in acquiring it, CEO Cabral-Gardner said in July in an interview to Reuters.
