Lithium Americas to acquire Arena Minerals for $227m.

Lithium Americas, a firm developing three lithium production assets, two brine resources located in northwestern Argentina and a clay resource in Nevada, agreed to acquire Arena Minerals, a lithium and copper exploration company, for $227m. “This transaction will consolidate the highly prospective Pastos Grandes basin, and creates an exciting opportunity for Lithium Americas, a Canadian incorporated and headquartered company, to add incremental growth in one of the most important lithium producing regions in the world. The significant synergies between our two projects and a better understanding of the basin will enable us to advance development planning and maximize our growth pipeline in Argentina. The timing of the Transaction aligns with the company’s previously announced plan to separate into two public companies in 2023, with significant project development activities expected at both businesses early next year," Jonathan Evans, Lithium Americas President and CEO.