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Ganfeng in $962M acquisition of Lithea

China’s Ganfeng Lithium plans to expand its upstream lithium presence through a US$962 million acquisition of privately-held Lithea—whose principal assets are the Pozuelos and Pastos Grandes lithium salt lake assets, known as the PPG project, in the Salta Province of Argentina.
Ganfeng in $962M acquisition of Lithea Ganfeng in $962M acquisition of Lithea Ganfeng in $962M acquisition of Lithea Ganfeng in $962M acquisition of Lithea Ganfeng in $962M acquisition of Lithea

Ganfeng says the PPG Project is intended to produce 30,000 tons of lithium carbonate per year in phase 1 and can be expanded to 50,000 tons per year depending on resource conditions.

Ganfeng plans to increase its resource self-sufficiency with upstream and downstream integration.

The company's operations extend along the lithium battery supply chain, including resource development, refining, and processing, battery manufacturing, and battery recycling.

Ganfeng says it has China's largest lithium compound capacity, which also ranks third in the world. It also claims the title of the world's largest lithium metal producer.

Ganfeng said the PPG project is "an excellent project in terms of resource amount, resource quality, capacity expansion potential and other aspects amongst the major lithium salt lake projects in Argentina".