Lithium Americas Corporation, a leading global lithium producer and developer, has announced its plans to restart its Cauchari-Olaroz lithium project in Argentina. The project is located in the Jujuy province of the country and is one of the world’s largest and highest-grade lithium brine deposits. The project was suspended in 2018 due to a lack of sufficient financing.
The Cauchari-Olaroz lithium project is one of the most advanced lithium projects in the world and has the potential to become a major source of lithium production. The project has a total of 8,000 hectares of brine-bearing concessions and a measured and indicated resource of 8.4 million tonnes of lithium carbonate equivalent. The project is expected to produce approximately 20,000 tonnes of battery-grade lithium carbonate per year.
The restart of the project is expected to create up to 1,000 jobs in the local community. It is also expected to generate significant economic benefits for the region, including increased tax revenues, increased investment and increased economic activity.
The restart of the project is being funded by a consortium of investors, including Ganfeng Lithium, a leading Chinese producer of lithium products, and SoftBank Group, a global technology leader. The consortium has committed to investing up to $280 million in the project.
Lithium Americas is currently in the process of restarting the project and is expected to begin production in 2021. The company is also in the process of obtaining the necessary permits and regulatory approvals for the project.
Lithium Americas is committed to operating the project in a safe and responsible manner. The company is committed to protecting the environment and ensuring that the project is operated in accordance with the highest standards of environmental, health, and safety practices.
The restart of the project is a major milestone for Lithium Americas and is expected to be a major contributor to the company’s growth in the coming years. The project is expected to generate significant long-term value for the company and its shareholders. It is also expected to contribute to the development of the lithium industry in Argentina and to the growth of the country’s economy.
