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Ganfeng Lithium Invests $70M in Lithium Argentina’s Pastos Grandes Project

Lithium Americas (Argentina) Corp. (TSX/NYSE: LAAC) has announced a significant partnership with Ganfeng Lithium Co. Ltd., marking a promising development for the lithium sector. Ganfeng Lithium will invest $70 million in newly issued shares of Proyecto Pastos Grandes S.A., acquiring about a 15% interest. This initiative emphasizes the collaborative efforts to enhance lithium extraction and processing technologies, particularly focusing on the advanced lithium brine project at Pastos Grandes, Salta, Argentina.

Pastos Grandes Project and Ganfeng Lithium Partnership

This notable collaboration brings together two leading entities in lithium production and development. With this investment, Ganfeng Lithium supports the strategic development plans for the expansive Pastos Grandes Basin, leveraging direct lithium extraction technology to optimize the project’s efficiency. Furthermore, the partnership strengthens Lithium Argentina’s financial position, empowering further exploration and operational activities within the region.

Transaction Highlights and Future Prospects

The transaction, expected to conclude in Q2 2024, signifies a robust commitment to advancing Argentina’s lithium industry, contributing significantly to the global lithium supply chain. The inclusion of Ganfeng Lithium’s expertise and resources is anticipated to fast-track the project’s development, underscoring a shared vision for sustainable lithium production.

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