Lithium Americas completed the $160m project investment by Ganfeng Lithium.

Lithium Americas has closed investment in which a subsidiary of Ganfeng Lithium subscribed for newly issued shares of Minera Exar, the holding company for the Caucharí-Olaroz lithium brine project in Jujuy, Argentina. In consideration for the newly issued shares, Minera Exar has received $160m in cash to continue to fund the Project’s construction activities. Upon closing, Ganfeng Lithium has increased its interest in Caucharí-Olaroz from 37.5% to 50%, with Lithium Americas holding the remaining 50% interest. “With the Project Investment complete, we have further strengthened our liquidity and expect to release the results of a feasibility study on an expanded initial production capacity for the Project of 40k tonnes per annum of battery-grade lithium carbonate in September 2019,” Jon Evans, Lithium Americas President and CEO.