Ganfeng Lithium takes majority ownership of Cauchari-Olaroz operation from Lithium Americas in JV move

February 24, 2020
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Ganfeng will take 51% ownership in jointly owned Minera Exar, a jointly owned company operating the lithium project, and Lithium Americas will receive $40 million in interest-free loans and 49% ownership. In 2018, Ganfeng bought SQM's stake for $49 million, then invested $160 million for 50/50 ownership with Lithium Americas in 2019. The Cauchari-Olaroz project is projected to begin in 2021 with an annual production capacity of 40,000 tons per annum using conventional brine evaporation pools. The extra cash will likely help Lithium Americas in its $400 million clay mining operation at Thacker Pass, Nevada. Ganfeng's majority ownership will open opportunities of state support from China and further enhance its global lithium portfolio.

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