trending Market Intelligence /marketintelligence/en/news-insights/trending/AFFR5cNNgxRsbFxG5XGlgg2 content esgSubNav
In This List

Ganfeng, Lithium Americas to invest US$230M in Cauchari-Olaroz lithium project

Blog

Insight Weekly: Unease roils markets; US likely to slip into recession; firms' cash ratios fall

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch


Ganfeng, Lithium Americas to invest US$230M in Cauchari-Olaroz lithium project

Ganfeng Lithium Co. Ltd. and Lithium Americas Corp. will invest US$230 million in their Minera Exar SA joint venture, which operates the Cauchari-Olaroz lithium project in Argentina, according to a statement Ganfeng filed March 8.

Ganfeng said its wholly-owned subsidiary GFL International Co. Ltd. will commit a maximum of US$100 million this year to fund Cauchari-Olaroz and Lithium Americas, which owns 62.5% in Miner Exar, will pay for the remaining amount. GFL International in August 2018 bought a 37.5% stake in Minera Exar from Sociedad Quimica y Minera de Chile SA for US$87.5 million.

Ganfeng said the construction of the campsite, mines and salt ponds started at the Carchari-Olaroz project in the first quarter. It is expected to enter production in the first half of 2020 with an annual capacity of 25,000 tonnes of lithium carbonate.