Lithium Argentina, formerly Lithium Americas Corp, announced on Wednesday the preliminary operational results for 2023 from the lithium brine operation Caucharí-Olaroz, that recently commenced commercial production in the province of Jujuy, Argentina.
By Panorama Minero
Within the context of this announcement, the 2023 production exceeded the company's expectations, reaching approximately 6,000 tons of lithium carbonate for the year. Furthermore, the lithium carbonate plant is currently operating at around 50% of its capacity, and the potassium chloride (KCl) plant is also operational, progressing in both production volume and final product quality. Lithium Argentina is scheduled to report year-end financial results on March 21 after the market closes.
"We are very pleased with the production results from Caucharí-Olaroz to date, and we continue to make progress in increasing both production volume and product quality," stated John Kanellitsas, Chief Executive Officer. "The team in Argentina has gained valuable experience and consistently achieved significant milestones as the project transitioned from construction to operations. We look forward optimistically to 2024, focusing on reaching nominal capacity and laying the groundwork for our next phase of growth."
Since achieving the first lithium carbonate production milestone in June 2023, Caucharí-Olaroz has been consistently producing with a lithium carbonate content of 99.5% and technical quality specifications approaching battery-grade standards.
In 2023, the project yielded approximately 6,000 tons of lithium carbonate, surpassing the company's earlier guidance of 5,000 tons. The initial lithium shipment left Argentina in early October, and since then, lithium carbonate has been exported regularly and sustainably.
Join our mining community!
Subscribe to our newsletter for exclusive news, insights, and updates on the mining industry and Panorama Minero's latest initiatives.
Eramet Acquires 100% of Argentina’s Centenario Lithium Project
French company Eramet has completed the acquisition of Tsingshan Group’s 49.9% minority stake in Eramine Sudamérica, the subsidiary operating the Centenario project, a strategic resource in Argentina’s Lithium Triangle. The transaction, which impacts the Group’s net debt by US$699 million, grants Eramet full ownership of this key asset in its lithium expansion strategy.
McEwen Copper Secures Additional US$35 Million Investment From a Rio Tinto Company
Canadian company McEwen Copper, a subsidiary of McEwen Mining with operations in San Juan, has closed a new US$35 million investment made by Nuton LLC, a company led by Rio Tinto. "This investment is part of a previously announced financing offer, consisting of a private placement of up to 2,333,333 common shares at a subscription price of US$30 per share, for a total of up to US$70 million."
Posco Launches the First Commercial Lithium Hydroxide Plant in Argentina
Posco Argentina, a subsidiary of the South Korean mining company Posco, has taken a crucial step in developing the country's lithium sector with the inauguration of the first commercial lithium hydroxide plant. Located in the General Güemes Industrial Park in Salta Province, the plant has an annual production capacity of 25,000 tons and represents an investment of over US$800 million. "This facility positions Argentina as a key supplier in the global lithium-ion battery market, essential for high-end electric vehicles," provincial government officials stated.
San Juan: Sable Starts the 2024-2025 Field Season at the Don Julio Project
The exploration junior Sable Resources Ltd. has commenced its field activities at the Don Julio Project, located in the province of San Juan. The company, listed on the TSX Venture Exchange, has confirmed that all exploration expenditures for this project are fully funded under an Earn-In Agreement signed in 2021 with a subsidiary of South32 Limited.
With its Environmental Impact Statement, a new era begins in Hualilán
The Hualilán project received its Environmental Impact Statement for production. Sonia Delgado, Director of Challenger Gold and Vice President of Golden Mining S.A., comments on this significant date for the venture located in the Ullum department, San Juan province.
ARS 400 Million Investment to Upgrade 300 km of Mining Roads in San Juan
The project includes construction and expansion work on mining roads, with the objective of ensuring transit between mining areas of interest and local communities or production centers.
NGEx Kicks Off Phase 3 Drill Program at Lunahuasi
NGEx Minerals Ltd. announced that its Phase 3 drill program has begun at its 100%-owned Lunahuasi property located in San Juan province, Argentina. The Phase 3 program follows a highly successful Phase 2 program completed in the first half of 2024, which delivered some of the highest-grade copper, gold, and silver intercepts drilled anywhere in the world and confirmed that Lunahuasi has both unusually high grades and large size potential. Phase 3 drilling intends to grow the deposit through step-out drilling and provide enough closer-spaced data to develop an initial Exploration Target as provided for in NI 43-101.
Salta: Lindero Gold Mine Reaches its Quarterly Targets and Produces Over 70,000 Ounces in the Year
Lindero Mine, the first open-pit gold mine in Salta province, has reported strong performance during the third quarter of 2024, remaining on track with its annual gold production projections. During this period, gold production reached 24,345 ounces, a 6% increase compared to the previous quarter, largely due to higher ore grades and increased ore processing.
Argentina, at the Center of the Global Lithium Map?
The movements of a constantly evolving industry and the political-economic transformations are directly impacting the country's prospects and possibilities.
The Global Impact on Argentina’s Economy: A View From JP Morgan
Global volatility and its effects on Argentina were the central theme of JP Morgan’s analysis at the region’s largest lithium conference. The country's mining potential, fully influenced by international circumstances, and the need for swift decision-making on the domestic front.
Technology and Innovation: Adionics Inaugurated Its Lithium Plant in Salta
The French firm took another step toward the industrialization of lithium in the Lithium Triangle, this time in the province of Salta.
AI Symposium in Salta: A Space to Deepen the Advantages and Challenges of AI in Mining
With the presence of national and regional mining sector leaders, the second edition of the Symposium on Artificial Intelligence Applied to the Mining Industry will take place at the National University of Salta. Laplace (Argentine Mining Workers Association), Royón (Lithium Task Force), Cacciola (Argentine Chamber of Mining Companies), and representatives from companies and industry chambers will be present.