Lithium Americas Closes Deals with SQM and Ganfeng Lithium

- November 1st, 2018

Lithium Americas (TSX,NYSE:LAC) has completed several transactions with subsidiaries of Jiangxi Ganfeng Lithium and Sociedad Química y Minera de Chile regarding the Cauchari-Olarox lithium project in Jujuy, Argentina.

Lithium Americas (TSX,NYSE:LAC) has completed several transactions with subsidiaries of Jiangxi Ganfeng Lithium and Sociedad Química y Minera de Chile regarding the Cauchari-Olaroz lithium project in Jujuy, Argentina.

As quoted in the press release:

Pursuant to the transaction, Ganfeng Lithium has acquired a 37.5 percent interest in Minera Exar S.A., the holding company for Cauchari-Olaroz, from SQM. Lithium Americas holds the remaining 62.5 percent interest. In connection with the transaction, Ganfeng Lithium has provided Lithium Americas with a US$100 million limited recourse, subordinated loan facility to fully fund Lithium Americas’ increased share of Caucharí-Olaroz’ capital expenditures.

Tom Hodgson, Lithium Americas CEO, commented:

“We would like to thank SQM for helping close the transaction on schedule and for their continued support during the transition period. We are very pleased with the recent progress at site, including the start of filling the first pond in October, and remain on track to commence lithium carbonate production in 2020. Following the close of the transaction, Lithium Americas remains well capitalized with approximately US$300 million in available capital and over US$45 million in cash on our balance sheet.”

Click here to read the full press release.

Is it a good time to buy gold stocks?


Learn to profit from gold's low price this year!

Get the latest Lithium Investing stock information

Get the latest information about companies associated with Lithium Investing Delivered directly to your inbox.

Lithium Investing

Select All
Select None

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time

Leave a Reply

Your email address will not be published. Required fields are marked *