Lithium Americas (Argentina) Corp. (LAAC.TO, LAAC) on Wednesday announced its 2024 production results for the Cauchari-Olaroz lithium brine operations in Argentina and provided production guidance for 2025.
Among highlights, the company in a statement said it achieved 2024 production guidance with approximately 25,400 tonnes of lithium carbonate produced; while production averaged 85% of design capacity during fourth quarter 2024. Production guidance is set at 30,000 to 35,000 tonnes of lithium carbonate.
The company added an updated technical report on Stage 1 of Cauchari-Olaroz was filed; and Lithium Argentina will hold a special meeting of shareholders on January 17, 2025, to approve the redomiciling of the company to Switzerland with amendments to certain resolutions outlined in the statement.
Wednesday's statement also noted Cauchari-Olaroz achieved 2024 production targets producing approximately 25,400 tonnes of lithium carbonate. Fourth quarter production volumes reached approximately 8,500 tonnes, a 25% increase compared to the third quarter of the year.
"We are exceptionally proud of our achievements this year, which reflect the outstanding performance of our team and our commitment to operational excellence," said Sam Pigott, Lithium Argentina's President and CEO. "Our results reflect the dedication and collaboration of our technical teams in Argentina and abroad."
"As we look ahead to 2025, our focus will shift towards improving the stability and consistency of our operations and further optimizing our cost profile. We look forward to developing our future growth plans this year and are excited to continue playing a key role in Argentina's transformation as a global leader in the lithium industry."
For 2025, Cauchari-Olaroz is expected to produce between 30,000 to 35,000 tonnes of lithium carbonate with a focus on optimizing operations to achieve higher production rates near nameplate capacity, more consistent quality and lower unit operating costs.
LAAC was down 1.1% on the TSX and 1% on the NYSE yesterday.
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