On 14 May, Lithium Americas (Argentina) Corp., the separated entity from former Lithium Americas Corp. announced its Q1 2024 earnings results. The company now owns two lithium brine projects in Argentina, one being the operational Cauchari-Olaroz project which produces 4,500 tonnes of lithium carbonate in Q1 2024 and eyes expansion, and the second project, the Pastos Grandes, is still in development.
The Caucharí-Olaroz project is progressing well towards the target of producing 20,000 to 25,000 tonnes of lithium carbonate in 2024. No monthly production targets are disclosed, but the management assures that production volume and quality have been improved and will continue to do so with a healthy inventory level, which will be reflected in product pricing and operating costs for the rest of this year.
For Pastos Grandes, Direct Lithium Extraction (DLE) technology is discussed as a solution tailored to specific geological conditions with the support of Ganfeng. On 5 March this year, Ganfeng agreed to subscribe an expected 15% of the additional shares of Proyecto Pastos Grandes S.A (PGCO), the subsidiary of Lithium Argentina, for a consideration of not more than US$70 million. As part of the transaction terms, Ganfeng will lead the development and construction of the project.
Author: Hongqiu Su | Battery Metals Analyst Associate | London Office, Shanghai Metals Market
Email: lilysu@smm.cn
