Lithium Americas Completes Reorganization, Creates Two Leading Lithium Companies
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Lithium Americas, now Lithium Americas (Argentina) Corp. and a new Lithium Americas Corp. have completed the reorganization of Lithium Americas into two independent publicly traded companies, implemented by way of statutory plan of arrangement.
“We look forward to seeing these two market-leading companies thrive independently,” said Jonathan Evans, president and CEO of Lithium Americas (NewCo).
“The separation offers investors two unique and highly focused pure-play lithium companies with world-class assets in our respective regions of operation,” added Evans.
“I am extremely proud of the Lithium Argentina and Lithium Americas (NewCo) teams for their hard work and dedication in redesigning these companies with the right management teams and resources to flourish independently,” said John Kanellitsas, executive chairman, president and interim CEO of Lithium Argentina.
“The closing of this separation is a pivotal moment in allowing each company to sharpen its focus and pursue independent and unique growth opportunities within the lithium industry,” added Kanellitsas.
Lithium Argentina owns a 44.8 percent interest in the Caucharí-Olaroz project located in Jujuy, Argentina. The company is focused on advancing its Caucharí-Olaroz project toward full production capacity and exploring regional growth opportunities in the Pastos Grandes basin with its Pastos Grandes and Sal de la Puna projects (100 percent and 65 percent owned, respectively).
Lithium Americas (NewCo) owns the Thacker Pass project located in Nevada, which hosts the largest known measured and indicated lithium resource in the United States. The company is focused on advancing construction at Thacker Pass; construction commenced in early 2023. Thacker Pass is expected to employ over 1,000 workers during construction and create 500 permanent jobs during operations over its 40-year mine life.
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