The company is building the $565 million Caucharí-Olaroz lithium brine project in Jujuy, Argentina. As at September 30 more than 60% of the capital costs were spent with over 80% committed. All critical equipment remains on track to be delivered by the end of 2020. The company expects construction to be complete by the end of 2021 with production scheduled to follow in early 2022.
Lithium Americas had $54 million in cash at the end of September, in addition to $202 million in capital available from credit and loan facilities to fund its share of Caucharí-Olaroz under the Exar joint venture with China's Ganfeng Lithium. Exar is building a 40,000 tonnes per year battery-quality lithium carbonate operation.
Lithium Americas said it expected all major permits to be received by the end of the first quarter of 2021 at its Thacker Pass lithium clay project in Nevada, USA.
The US Bureau of Land Management is in the process of incorporating public comments into the final environmental impact statement which will form the basis of the record of decision.
"The company has decided to implement an ATM programme to strengthen our position as we advance discussions with potential partners and customers at Thacker Pass," said Lithium Americas president and CEO Jon Evans.
Shares in Lithium Americas are trading at C$17.31, valuing the company at $1.5 billion.