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BRIEF-Lithium Americas, Posco to form JV to develop Cauchari-Olaroz Lithium project

Published 2015-08-27, 07:59 a/m
© Reuters.  BRIEF-Lithium Americas, Posco to form JV to develop Cauchari-Olaroz Lithium project
LAAC
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Aug 27 (Reuters) - Lithium Americas Corp LAC.TO :
* Lithium Americas and Posco execute heads of agreement defining basic
conditions of joint venture for the development of the Cauchari-Olaroz
Lithium project
* Says Posco has agreed to finance the capital expenditures required for the
initial phase of 2,500 tonnes commercial production
* Says parties have agreed Posco will contribute to the joint venture the right
to use its proprietary Lithium extraction technologies
* Says lac will contribute the right to use brine from its cauchari-olaroz
salar properties
* High efficiency Lithium extraction demonstration plant is expected to be
producing up to 2,500 tonnes per annum by year-end 2016
* Plant expected to be producing up to 2,500 tonnes per annum by year-end 2016
* Anticipates ramping up plant to 20,000 tonnes by year-end 2017
* Executed hoa with Posco regarding commercialization of co's cauchari-olaroz
Lithium project in jujuy province, Argentina

* Source text for Eikon ID:nCCN2Xq4nh

* Further company coverage LAC.TO

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