Lithium Americas Provides Update on COVID-19 Response at Caucharí-Olaroz
July 27 2020 - 7:37AM
Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium
Americas" or the "Company") announced on July 6, 2020 that
workers at the Caucharí-Olaroz lithium project
(“
Caucharí-Olaroz” or the
“
Project”) in Jujuy, Argentina tested positive for
COVID-19. In response, construction was immediately suspended and
all workers were quarantined and have undergone further testing.
The local operating company, Minera Exar S.A. (“
Minera
Exar”), a 50/50 joint venture with the Company and Ganfeng
Lithium Co. Ltd. (“
Ganfeng Lithium”, together with
the Company, the “
Shareholders”), has completed
testing of the entire workforce and safely demobilized the site.
While additional workers tested positive for COVID-19, the Company
has been advised that the majority of positive cases are
asymptomatic. Approximately 20% of positive cases are recovered and
have been released with three workers hospitalized and in stable
condition.
The Company has recently become aware of press
reports indicating that the Province of Jujuy has commenced
proceedings related to Minera Exar’s implementation of provincial
COVID-19 health and safety protocols. Minera Exar and the
Shareholders take these claims seriously and are actively
addressing these matters with the Province of Jujuy.
"The health and safety of our workers, local
communities and the Province of Jujuy has always been - and will
continue to be - our highest priority," said Jon Evans, President
and CEO of Lithium Americas. “We are working closely with our
partner Ganfeng Lithium and, with the advice of leading medical
experts, taking appropriate actions with Minera Exar and the
Province of Jujuy to ensure we continue to prevent the spread of
COVID-19, while providing the highest health and safety standards
for our workers and local communities.”
About Lithium
Americas:
Lithium Americas is developing Caucharí-Olaroz
in Jujuy, Argentina with 50/50 joint venture partner, Ganfeng
Lithium. The Company previously announced a transaction whereby
Ganfeng Lithium will increase its interest in the Project to 51%
with Lithium Americas holding the remaining 49%. The transaction
remains on track to close by the end of Q3 2020. In addition, the
Company is developing the 100%-owned Thacker Pass lithium project
in Nevada, USA. The Company trades on both the Toronto Stock
Exchange and on the New York Stock Exchange, under the ticker
symbol “LAC”.
For further information contact:Lithium Americas
Corp.Investor RelationsSuite 300 – 900 West Hastings
StreetVancouver, BC, V6C 1E5Telephone:
778-656-5820Email: ir@lithiumamericas.comWebsite:
www.lithiumamericas.com
Forward-Looking
Statements:
This news release contains “forward-looking
information” and “forward-looking statements” (which we refer to
collectively as forward-looking information) under the provisions
of applicable securities legislation. All statements, other than
statements of historical fact, are forward-looking information.
Examples of forward-looking information in this news release
include, among other things, the impact of the COVID-19 outbreak
on the Caucharí-Olaroz project and the Company, the Company’s
success at managing and containing the outbreak, the scope and
consequences of any proceeding undertaken by Jujuy authorities and
the expected completion and timing of the current transaction with
Ganfeng Lithium.
Forward-looking information is based upon a
number of factors and assumptions that, if untrue, could cause the
actual results, performances or achievements of the Company to be
materially different from future results, performances or
achievements expressed or implied by such information. Such
information reflects the Company’s current views with respect to
future events and is necessarily based upon a number of assumptions
that, while considered reasonable by the Company today, are
inherently subject to significant uncertainties and contingences.
These assumptions include, among others, the impacts of COVID-19
globally and in Jujuy Province, the reaction of local communities
and governments to the COVID-19 outbreak, Minera Exar’s compliance
with laws and regulations in respect of its COVID-19 protocols and
its response to the outbreak and the ability to successfully
contain the outbreak on site.
Forward-looking information also involves known
and unknown risks that may cause actual results to differ
materially. These risks include, among others, inherent risks in
the development of capital intensive mineral projects (including as
co-owners), governmental or community policy, political and legal
risk associated with the governments and local communities affected
by the outbreak at the project, health and safety risks, and
general market and industry conditions. Additional risks,
assumptions and other factors are set out in the Company’s
management discussion and analysis and most recent annual
information form, copies of which are available on SEDAR at
www.sedar.com.
Although the Company has attempted to identify
important risks and assumptions, given the inherent uncertainties
in such forward-looking information, there may be other factors
that cause actual results to differ materially from those that are
expected. Forward-looking information is made as of the date hereof
and the Company does not intend, and expressly disclaims any
obligation to update or revise the forward-looking information
contained in this news release, except as required by law.
Accordingly, readers are cautioned not to place undue reliance on
forward-looking information.
Lithium Americas (NYSE:LAC)
Historical Stock Chart
From Mar 2024 to Apr 2024
Lithium Americas (NYSE:LAC)
Historical Stock Chart
From Apr 2023 to Apr 2024