Ganfeng Lithium, a China-based lithium company, completed the $16m investment in Minera Exar, a joint venture of Ganfeng Lithium and Lithium Americas, a resource company. With the investment Ganfeng Lithium's stake raised from 50% to 51%. In addition, Lithium Americas received $40m in cash from the proceeds of a non-interest-bearing loan from Ganfeng Lithium. “The transaction with Ganfeng Lithium further strengthens our long-term partnership in Argentina as we work together to bring Caucharí-Olaroz into production. With an additional $40m in cash on our balance sheet and over $200m in available capital to fund our share of Caucharí-Olaroz, Lithium Americas remains in a strong financial position as we advance both of our projects," Jon Evans, Lithium Americas President and CEO.