Core Viewpoint - Lithium Argentina AG reported strong operational performance in 2024, with the Cauchari-Olaroz lithium carbonate operation becoming the largest in Argentina, achieving over 90% capacity utilization by December 2024 [1][6]. Operational Performance - Lithium carbonate production in 2024 totaled 25,400 tonnes, exceeding production guidance [6]. - Fourth quarter production reached 8,500 tonnes, a 25% increase from the previous quarter, achieving 85% of design capacity [6]. - For 2025, production is guided to be between 30,000 and 35,000 tonnes, with higher output expected in the second half of the year due to planned shutdowns in the first half [6]. Financial Performance - Revenue for 2024 was 7,800 per tonne of lithium carbonate sold [6]. - The company reported a net loss of 1,288.3 million in 2023, primarily due to operational losses and lower gains from financial instruments [10]. - As of December 31, 2024, the company had 75 million undrawn credit facility with Ganfeng [9]. Debt Management - Project-level debt was reduced from 210 million during 2024, supported by Ganfeng's access to low-cost capital [2]. - The company secured longer-term debt facilities with international banks at competitive rates [2]. Future Plans - The company aims to optimize operations further in 2025, focusing on integrating new processing technologies developed by Ganfeng, including a solvent extraction DLE process [3]. - A 5,000 tonnes per annum demonstration plant is expected to begin commissioning later in 2025 [9]. - Plans for Stage 2 expansion include an additional production capacity of 40,000 tonnes per annum, utilizing existing infrastructure and new processing technologies [9]. Regional Development - The company is advancing a regional growth plan in collaboration with Ganfeng, targeting a production capacity of up to 150,000 tonnes per annum across various projects in the Province of Salta [9].
Lithium Argentina Reports Fourth Quarter and Full Year 2024 Results