China’s Ganfeng to take control of Cauchari-Olaroz lithium project

China’s Ganfeng Lithium Co has agreed with Vancouver-based Lithium Americas to take control of the Cauchari-Olaroz lithium project in Argentina’s far north. Ganfeng will pay $16 million to increase its stake to 51%, whilst Lithium Americas will get $40 million cash and retain 49% stake, in a deal to be closed before August. Lithium Americas plans to focus on its $400 million Thacker Pass lithium project in Nevada, USA.

Source: Reuters