Highlights:
Lithium Americas Corp. (TSX:LAC) (NYSE:LAC)
("Lithium Americas" or the "Company") is pleased
to provide the results of a Preliminary Feasibility Study ("PFS")
for the Thacker Pass lithium project ("Thacker Pass" or the
“Project”) in Humboldt County, Nevada. Unless otherwise
stated, all figures are quoted in U.S. dollars ("$") and are
reported on a 100% equity project basis.
Thacker Pass is located in the McDermitt Caldera
and is 100% owned by Lithium Nevada Corp. (“Lithium Nevada”), a
wholly-owned subsidiary of Lithium Americas. The PFS, prepared and
approved by WorleyParsons Canada Inc. (“WorleyParsons”),
demonstrates a design capacity of 60,000 tonnes per annum (“tpa”)
of battery-grade lithium carbonate (“Li2CO3”) with initial
production capacity of 30,000 tpa (“Phase 1”) and increasing to
60,000 tpa (“Phase 2”). The PFS supports a proven and probable
reserve estimate (“Mineral Reserves”) of 179.4 million tonnes of
ore with an average grade of 3,283 parts per million lithium (“ppm
Li”) containing 3.1 million tonnes of lithium carbonate equivalent
(“LCE”).
“The strong economics demonstrated by the PFS
clearly support the commercial potential for this large, high-grade
clay-based lithium resource,” commented Alexi Zawadzki, Lithium
Americas’ President of North American Operations. “With the
experience of our team and leveraging our strong partner
relationships, we plan to rapidly advance this scalable project to
become the leading source of lithium production in the USA.”
“Thacker Pass is an important complement to our
Cauchari-Olaroz lithium joint venture currently under construction
in Jujuy, Argentina. The PFS reflects the substantial synergies and
value realized from leveraging the talent and operating expertise
of our largest shareholder, Ganfeng Lithium,” commented Tom
Hodgson, CEO of Lithium Americas. “As a large U.S.-based lithium
project with strong economics, we expect Thacker Pass to attract
significant strategic partnership opportunities to accelerate the
path to production.”
A summary of the results of the Thacker Pass PFS
are provided in Table 1:
Table 1: Thacker Pass - PFS
Results
|
|
Lithium carbonate
price |
$12,000/t Li2CO3 |
Mining method |
Continuous open-pit mining |
Annual production
capacity |
60,000 tpa Li2CO3 (Phase 1 - 30,000 tpa) |
Mineral reserves |
3.1 million tonnes of LCE at 3,283 ppm Li |
Mine life |
46 years |
Strip ratio
(waste-to-ore mined)Pit depth (max) |
1.6:1120 m |
Initial capital
costs |
$1,059 million (Phase 1 - $581 million) |
Operating costs
(average LOM) |
$2,570/t Li2CO3 ($4,088/t before by-product
credits) |
EBITDA (average
annual) |
$520 million (Phase 1 - $246 million) |
NPV (8% discount,
pre-tax) |
$3.9 billion |
NPV (8% discount,
after-tax) |
$2.6 billion |
IRR (pre-tax) |
36.6% |
IRR
(after-tax) |
29.3% |
Project Details
The Thacker Pass Project is located in Humboldt
County in northern Nevada, USA. The Project is situated at the
southern end of the McDermitt Caldera, approximately 100 km
northwest of Winnemucca, 33 km northwest of Orovada and 33 km due
south of the Oregon border. The Project is accessible via a paved
highway with good regional infrastructure including power and rail.
Northern Nevada is recognized as one of the most concentrated areas
in the world for skilled mining labor.
The Project has been designed to avoid
environmentally sensitive and rugged terrain, which is expected to
reduce permitting timelines, construction risk and costs. The
plant and tailings facilities are in the low-lying area of Thacker
Pass and immediately adjacent to the pit, which houses the Thacker
Pass deposit, the largest and highest-grade known sedimentary
lithium deposit in the USA. The flat and expansive terrain
allows for a very compact footprint and allows for future potential
expansions.
The PFS contemplates initial Phase 1 production
capacity of 30,000 tpa of battery-grade Li2CO3 commencing in
2022 and increasing in Phase 2 to 60,000 tpa in 2026. The Project
will be developed as an open-pit mining operation using
conventional continuous mining equipment. Given the soft nature of
the deposit, minimal blasting and crushing is anticipated. The ore
will then be processed in a leaching circuit using sulfuric acid to
liberate the lithium from the claystone. Following the leaching
process, the lithium bearing solution will be purified using
crystallizers and reagents to produce battery-grade Li2CO3.
With the reliance on sulfuric acid, the Project
will involve the construction of a 5,280 tonnes per day (“tpd”)
(2,640 tpd – Phase 1) conventional sulfuric acid plant at site. The
sulfuric acid plant will convert molten sulfur into low-cost
sulfuric acid reducing transportation costs and providing a
low-cost source of power. Excess acid will be sold locally to large
consumers in the region. In addition, the sulfuric acid plant
contemplates a co-generation facility, providing enough carbon-free
electricity to power the entire Project with excess power being
sold to the grid.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/f9694a83-dba3-4745-8570-209dda53f46e
Mining
The mining operation for the Project is planned
as a simple and low-cost open-pit mine using a small fleet of
surface miners. Given the soft nature of the claystone, minimal
blasting is anticipated and will be limited to areas in the deposit
with basalt formations. The mine plan includes excavating
highest-grade and lowest strip ore in the early years of
production; however, ore grades do not fluctuate substantially
throughout the life of mine (“LOM”). The ore body begins at
or near surface, with the maximum depth of the pit reaching 120
m. The average ore mining rate is 7,296 tpd for Phase 1 and
13,062 tpd for Phase 2.
The mine plan contemplates mining of 509.8
million tonnes of material consisting of 330.4 million tonnes of
waste rock and 179.4 million tonnes of ore (delivered to plant)
over a 46-year mine life. The average strip ratio for the Project
is 1.6:1 waste-to-ore mined with an average strip ratio of 1.5:1
during the first four years of the mine plan. In-pit waste backfill
will total 285 million tonnes, with only 2.2 million tonnes being
transferred by truck to a nearby waste rock dump. Waste rock is
also used as fill for project infrastructure. The average grade of
the ore is 3,283 ppm Li.
The tonnes, grades, and classification of the
Mineral Reserves captured within the PFS mine plan are summarized
in Table 2.
Table 2: Thacker Pass - Mineral
Reserves
Category |
Tonnage (000 t) |
Avg. Lithium (ppm) |
Lithium Metal (000 t) |
LCE (000 t) |
Proven |
133,944 |
3,308 |
443 |
2,358 |
Probable |
45,478 |
3,210 |
146 |
777 |
Proven and Probable |
179,422 |
3,283 |
589 |
3,135 |
Notes:
1. Mineral Reserves are defined at the
point where the ore is delivered to the processing plant.
Reductions attributed to plant losses have not been
included.2. Mineral Reserves are presented
at a 2,500 ppm Li cut-off grade.3. The
conversion factor for lithium metal (100%) to LCE is
5.323.4. Applied density for the ore is
1.79.
Collaboration with Ganfeng
Lithium
Metallurgical testwork for the PFS was carried
out at production facilities owned and operated by Jiangxi Ganfeng
Lithium Co.,Ltd. (“Ganfeng Lithium”) in Jiangxi Province, China.
The process testwork benefited from a close collaboration between
Ganfeng Lithium and Lithium Americas’ respective technical
teams.
Lithium Americas provided four statistically
representative composites of ore from the deposit that characterize
the different grades of ore exposed by drilling in the proposed pit
area. These samples were based on the mass weighted average of the
deposit and were assembled from different depths and locations to
ensure a representative testing campaign.
The initial process flow sheet concept was
developed by Lithium Americas. The test program was developed with
Ganfeng Lithium’s engineering and technical teams. Much of
the process test work was carried out by Ganfeng Lithium and
complimented Lithium Americas test work on ore preparation,
tailings handling and storage design. Results from this testing
were incorporated to the process flow sheet using the
industry-standard Aspen chemical process model. A final
bench-scale confirmation test was completed at Ganfeng Lithium’s
facilities. The process engineering and design for the process
plants and infrastructure were based on the results of the test
work, as well as Aspen process model results.
Lithium Americas and Ganfeng Lithium intend to
collaborate further on the development of the pilot plant testing
programs for Thacker Pass. Ganfeng Lithium’s existing facilities
provide an accelerated and low-cost opportunity to demonstrate the
process technology at a commercial scale.
Processing
The production process is designed to use
conventional and commonly-available equipment, arranged to take
advantage of the distinctive qualities of the high-grade ore.
The process comprises a series of steps to concentrate, separate
and produce battery-grade Li2CO3.
First, ore from the mine will be crushed,
screened and then transferred as a slurry to the leaching circuit
where sulfuric acid will be added to attack the ore and liberate
the lithium from the clay. The high-grade quality of the ore allows
for leaching to occur in stirred reactors (vats), specifically
designed to maximize speed and efficiency of lithium dissolution,
while minimizing sulfuric acid consumption. Total leaching time is
estimated at three hours.
The resulting lithium-bearing solution will then
go through a pH-neutralization step. Neutralization will be
achieved with ground limestone during start-up and sustained with
recycled alkaline solids from an upstream precipitation process
during normal operation. Next, the lithium solution will undergo a
crystallization step using steam and electricity from the sulfuric
acid production process. Water is removed for recycling, and
magnesium sulfate (Epsom salt) is produced. Any magnesium remaining
in solution is removed in a second step that involves the addition
of reagents to precipitate magnesium hydroxide.
Finally, soda ash will be added to the lithium
bearing solution to produce a high-quality, battery-grade Li2CO3.
Much of the water contained in the lithium solution will be
recovered and returned to the process. The total time
projected to manufacture battery-grade Li2CO3 from the ore is less
than 24 hours. The overall recovery of lithium from the ore is
83%.
Waste from the process will be separated into
three distinct streams: clay tailings, magnesium sulfate and
sodium/potassium sulfate. Separation of these streams allows for
potential future processing and sale of these salts. Tailings and
salt storage facilities are located adjacent to the plant.
A diagram illustrating the process flowsheet is
shown in Figure 2.
A photo accompanying this announcement is available at
http://www.globenewswire.com/NewsRoom/AttachmentNg/a541e8a5-443c-49d4-b206-8323fc9da379
Sulfuric Acid Plant
The price of sulfuric acid is a major factor in
the economics demonstrated by the PFS. The price of sulfuric acid
has fluctuated from a low of $30/t to a high of $200/t over the
past 15 years. The on-site production of sulfuric acid will create
value for the Project in three ways, by: (i) reducing
transportation costs - one part molten sulfur will make three parts
sulfuric acid; (ii) producing steam and electricity; and (iii)
generating revenue through sale of excess acid and electricity to
the market.
Supplies of molten sulfur, the feedstock for a
sulfur-burning sulfuric acid plant, are available as a reliable
by-product from numerous chemical processing locations throughout
the western USA. In 2017, approximately 9 million tonnes of sulfur
were produced in the USA with 46% produced in the Rocky Mountain
and West Coast regions. The main benchmark price in the molten
sulfur domestic market, the Tampa quarterly price, has remained
relatively stable since 2016 and is expected to remain $66 - $97/t
(delivered) through 2023.
Modern acid plants represent a clean technology
and have been recently permitted throughout the United States. Soda
ash, already available in large quantity at the plant site for
Li2CO3 production, will be used in a tail gas scrubber arrangement
to reduce sulfur dioxide emissions well below the US EPA Prevention
of Significant Deterioration (“PSD”) limit of 90 tpa.
Thacker Pass Phased
Expansion
The Thacker Pass PFS entails the design of a
production facility reaching a capacity of 60,000 tpa Li2CO3,
through two 30,000 tpa Li2CO3 construction phases. The production
capacity was selected based on anticipated market demand. Although
not contemplated in the PFS, Phase 2 may be re-designed to increase
production capacity, based on market conditions.
Phase 1 construction is targeted to commence in
2020 with lithium production beginning in 2022. Reagent and product
transport in Phase 1 is serviced entirely by trucks via the
existing paved State highway network adjacent to the plant.
Phase 2 construction is projected to start in
2025, with added production entering the market by 2026.
Capital costs for Phase 2 are estimated at $478 million.
Additional infrastructure in Phase 2 includes (i) doubling the
sulfuric acid capacity by building a second acid plant, (ii)
increasing capacity in ore preparation, leaching, filtration,
crystallization, and reagent storage, and (iii) construction of a
rail line with service directly to the plant.
Phase 2 includes the construction of a 93 km
rail line that interconnects the plant with a Union Pacific main
line (“UP Line”) near Winnemucca. The proposed rail route alignment
involves minimal cut-fill balancing due to near-flat topography,
resulting in a low cost of construction. The rail line streamlines
the transportation of reagents and products, reduces operational
costs and allows for significant future plant expansions. The
UP Line is connected to existing facilities producing soda ash
(Wyoming), limestone (Nevada) and molten sulfur (various
locations). The capital cost ($105 million) and operating cost of
the rail line are included in the PFS; however, there is the
potential to assign responsibility for construction and operation
of the railway to a third-party rail operator.
Credits from Sulfuric Acid and
Electricity Sales
The only by-products from Li2CO3 production
contemplated in the PFS are excess sulfuric acid and electricity.
The distribution of gross revenue between Li2CO3 and by-products
are presented in Table 3.
A "captive" co-generation sulfur-burning acid
plant, with an on-site turbine waste-heat electric power generating
unit, would reduce sulfuric acid and electricity costs. It is
estimated that the 2,640 tpd acid plant proposed for Phase I will
generate 35 MW of electricity. In Phase II, a second 2,640 tpd
sulfuric acid plant, supplemented with additional heat recovery
equipment, would produce an estimated total electrical output of 80
MW. Depending on pricing for electricity sales and consumption
needs, the Project may sell all electricity produced, or only the
excess produced when the Project’s electrical power requirements
are satisfied. The PFS considers selling all electricity produced
by the co-generation facility at 0.0756 $/kWh and purchasing power
from the grid at 0.0632 $/kWh. This carbon-free firm electricity is
a premium, in-demand product that can stabilize intermittent
renewable energy production.
The design capacity of the sulfuric acid plants
in Phase 1 and Phase 2 facilitate the sale of excess acid, which
can be sold and distributed to regional manufacturers and mining
customers. The credits from electricity and excess acid sales
result in a LOM production cost of sulfuric acid of $8.23/t
H2SO4 (based on 100% concentration) or $262/t LCE using sulfur
at $146/t (delivered) as the base case.
Table 3: Thacker Pass -
Distribution of Gross Revenue
|
Phase 1Average Annual
Revenue |
Phase 2Average Annual
Revenue |
Life of MineTotal
Revenue |
Category |
($ millions) |
(%) |
($ millions) |
(%) |
($ millions) |
(%) |
Lithium carbonate |
$ |
368 |
90.4 |
% |
$ |
705 |
88.7 |
% |
$ |
31,233 |
88.8 |
% |
Electricity |
$ |
21 |
5.0 |
% |
$ |
48 |
6.1 |
% |
$ |
2,118 |
6.0 |
% |
Sulfuric
acid |
$ |
18 |
4.6 |
% |
$ |
41 |
5.2 |
% |
$ |
1,833 |
5.2 |
% |
Total |
$ |
407 |
100.0 |
% |
$ |
794 |
100.0 |
% |
$ |
35,185 |
100.0 |
% |
Capital Costs
The capital cost estimates are based on quotes
for current labor and materials costs. The Phase 1 construction
capital cost are estimated at $581 million inclusive of a 19%
contingency. Construction and commissioning are expected to take
approximately 21 months, with production expected to commence in
2022, subject to receiving final permits. At a price of $12,000/t
Li2CO3, cashflow from Phase 1 is expected to fully-fund the capital
costs of Phase 2. Detailed capital cost estimates are presented in
Table 4.
Table 4: Thacker Pass - Capital Costs
Category |
Phase 1Capital
Costs($ millions) |
Phase 2Capital
Costs($ millions) |
TotalCapital
Costs($ millions) |
Direct
Costs |
|
|
|
Lithium carbonate
plant |
$ |
218 |
$ |
96 |
$ |
314 |
Sulfuric acid
plant |
$ |
134 |
$ |
158 |
$ |
293 |
Mine |
$ |
46 |
$ |
1 |
$ |
47 |
Railroad
and yards |
$ |
3 |
$ |
81 |
$ |
84 |
Total Direct Cost |
$ |
401 |
$ |
336 |
$ |
737 |
Total Indirect
Cost |
$ |
89 |
$ |
65 |
$ |
154 |
Contingency (18.8%) |
$ |
91 |
$ |
77 |
$ |
168 |
Total Capital Costs |
$ |
581 |
$ |
478 |
$ |
1,059 |
Operating Costs
The operating costs are based on an operation
achieving average annual production of approximately 30,000 tpa and
rising to 60,000 tpa of battery-grade Li2CO3. The estimated average
operating cost for the mine, and processing facilities are as
follows:
Table 5: Thacker Pass - Operating
Costs
Category |
Operating Cost ($/t Li2CO3) |
% of Total |
Mining |
$ |
488 |
12.0 |
% |
Lithium processing |
$ |
1,649 |
40.0 |
% |
Sulfuric acid
plant |
$ |
1,780 |
44.0 |
% |
General and
administrative |
$ |
156 |
3.6 |
% |
Electricity delivery (wheeling charge) |
$ |
15 |
0.4 |
% |
Total Operating Costs |
$ |
4,088 |
100.0 |
% |
Project Economics
The financial results are derived from inputs
based on an annual production schedule included in the Thacker Pass
PFS. A sensitivity analysis on the unlevered economic results over
a 46-year operating period are summarized in Table 6 and reported
on a 100% equity project basis.
Table 6: Thacker Pass - After-Tax NPV
and IRR Sensitivity Analysis
Discount Rate |
Low Case NPV |
Base Case NPV |
High Case NPV |
(%) |
$10,000/t
Li2CO3($ millions) |
$12,000/t Li2CO3
($ millions) |
$14,000/t Li2CO3
($ millions) |
6 |
% |
$ |
2,790 |
|
$ |
3,800 |
|
$ |
4,811 |
|
8 |
% |
$ |
1,856 |
|
$ |
2,591 |
|
$ |
3,327 |
|
10 |
% |
$ |
1,259 |
|
$ |
1,816 |
|
$ |
2,373 |
|
IRR (%) |
|
24.0 |
% |
|
29.3 |
% |
|
34.3 |
% |
The Project is subject to a 1.75% royalty on net
revenue produced directly from ore. This royalty has been included
in the economic model with the assumption that the Company will
exercise its right under the terms of the royalty to reduce the
royalty from 8.0% to 1.75% by making an upfront payment of $22
million in the first year of operations. At $12,000/t Li2CO3
the ongoing annual royalty payments will average $210/t Li2CO3
sold. The royalty is not applicable to revenues from the sale of
electricity and sulfuric acid.
Community and
Environment
Lithium Americas has developed a community
engagement plan, recognizing that the well-being of all
stakeholders is essential to the success of the Project. The
Project was designed reflecting information collected during
numerous stakeholder meetings, including a public open house.
This approach is expected to mitigate potential concerns at the
design level, and ensures the local community is included early in
the development process. Future public open houses are
planned as the project advances to ensure the community is fully
engaged.
Economic Benefits to Nevada and
USA
The Thacker Pass PFS demonstrates the Project
will provide substantial economic benefits to the USA at the local,
state and national levels, including:
- Direct employment of at least 800 high paying jobs during the
21-month construction period (Phase 1);
- Direct employment of at least 292 high paying permanent
positions during the 46-year operation;
- Several hundred indirect jobs with suppliers of products and
services to support mine operations;
- $1.7 billion capital investment on a combined basis for both
Phases 1 and 2 including sustaining capital;
- Payments to the federal and state governments totaling
approximately $6.7 billion in the form of corporate tax over 46
years (based on a price of $12,000/t of Li2CO3);
- Training and skills development programs aimed at maximizing
local employment in Nevada; and
- Expected improvement of local and regional infrastructure.
Permitting
Environmental leadership is a core value of
Lithium Americas. Thacker Pass has been engineered to
minimize the environmental footprint, by avoiding sensitive
environmental habitat and employing the best available
environmental control technologies.
Phase 1 of the project is located entirely on
federal lands administered by the Bureau of Land Management
(“BLM”), which will be the lead agency for issuing federal approval
under the Mining Law surface management regulations and for the
preparation of the Environmental Impact Statement (“EIS”). Other
permits will be required from various state and federal
agencies.
The process for permitting a lithium mine on
federal lands in the USA is currently being reviewed as a result of
Presidential Executive Order 13817, which calls for a federal
strategy to ensure secure and reliable supplies of critical
minerals. A critical mineral is defined as being a non-fuel
mineral, with a vulnerable supply chain, that is essential to the
economic or national security of the USA. Lithium is
categorized as a critical mineral. The new federal strategy
is expected to include streamlining of permitting and review
processes to expedite production of critical minerals.
The project could benefit from an accelerated
permitting procedure that supports the federal mandate to enhance
domestic lithium production. For the purposes of the PFS, a
construction start date of Q4 2020 was assumed. This may be
revised once details of the new federal permitting process are
released.
Lithium Americas began the permitting process in
Q1 2018 by commencing baseline data collection. The baseline
data collection process is scheduled to be substantially complete
by Q4 2018. A Mine Plan of Operations is expected to be ready
for submission in Q3 2018, with the EIS to be submitted to the
regulators by Q3 2019. Approvals would be issued following
the regulatory review of the EIS.
Next Steps and
Recommendations
The Thacker Pass PFS has assumed a development
timetable as follows:
- Q2 2018 – Commence exploration drilling aimed to increase
resource size northwest of the pit area and in the SW Basin (see
Figure 1)
- Q3 2018 - Commence pilot testing and additional trade-off
studies; advance basic engineering towards construction
- Q3 2018 - Submit Mine Plan of Operation for Phase 1
- Q3 2019 - Submit EIS for Phase 1
- Q4 2020 - Receive final permits and begin construction of Phase
1
- Q3 2022 - Commissioning and first Phase 1 production
- Q2 2025 - Federal and State approvals obtained for rail
corridor and plant expansion
- Q2 2025 - Commence construction for Phase 2
- Q3 2026 - Commissioning and Phase 2 production
The Thacker Pass PFS and Lithium Americas have
identified a number of areas for further consideration. These
include:
- Sale of an intermediate product. To improve
financing flexibility, Lithium Americas is considering the
production of an intermediate product with the final processing to
be completed by a separate company.
- Production of other lithium compounds (i.e. lithium
hydroxide and lithium metal). Lithium Americas will
consider leveraging the plant design to manufacture lithium
hydroxide (LiOH). In addition, the Company will consider the
production of lithium metal from Li2CO3 produced at the plant.
- Lithium-ion battery recycling facility.
Lithium Americas will consider leveraging the plant design for
future inclusion of a lithium ion battery recycling facility.
- Extraction of additional critical minerals
(Presidential Executive Order 13817).
Lithium Americas will continue to evaluate the feasibility of
extracting and processing other critical minerals within the
Thacker Pass deposit currently treated as waste.
- Railway partnership. Lithium Americas will
evaluate the potential to engage an experienced rail industry
partner to build, own and operate the proposed rail spur from the
UP main line to the plant.
- Acid plant partnership. Lithium Americas will
evaluate the potential for a partnership(s) in the ownership,
construction and/or operation of the acid plants. This could
include a joint venture partnership or a third-party
build-own-operate structure.
- Solar power plant. Lithium Americas will
evaluate the feasibility of generating solar electricity near the
plant site to increase revenue and reduce the environmental
footprint of the project.
Qualified Person
The contents of this press release have been
prepared under the supervision of, and reviewed and approved, by,
the following persons, each of whom is a Qualified Person (“QP”) as
defined under National Instrument 43-101 and an independent
consultant to the Company:
- Louis Fourie, P.Geo., WorleyParsons, QP for mineral resources
and QA/QC and data verification;
- Dan Peldiak, P.Eng., WorleyParsons, QP for the Process
Design;
- Reza Ehsani, P.Eng., WorleyParsons, QP for the
Infrastructure;
- John Young, SME-RM, Great Basin Environmental Services, LLC, QP
for the Environmental and Society;
- Andrew Hutson, Fellow of AusIMM, Mining Plus, QP for the mine
engineering aspects and Mineral Reserves;
- Ken Armstrong, P.Eng., Chemetics Inc., a Jacobs company, QP for
the sulfuric acid plant;
- Don Kime, Chemetics Inc.; and
- Rob Spiering, P.Eng., Project Director, WorleyParsons, QP for
Estimate and the Economic Analysis, and for all remaining
disclosure.
Please see the Company’s technical report dated
effective February 15, 2018 and entitled, “Independent Technical
Report for the Thacker Pass Project, Humboldt County, Nevada, USA”,
available via SEDAR, for a description of the quality assurance /
quality control program and data verification processes employed to
develop the information presented in this news release.
About Lithium
Americas:
Lithium Americas, together with SQM, is
developing the Cauchari-Olaroz lithium project, located in Jujuy,
Argentina, through its 50% interest in Minera Exar. In addition,
Lithium Americas owns 100% of the Thacker Pass project (formerly
Stage 1 of Lithium Nevada project), and RheoMinerals Inc., a
supplier of rheology modifiers for oil-based drilling fluids,
coatings, and specialty chemicals. 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 1150 – 355 Burrard
StreetVancouver, BC, V6C 2G8Telephone: 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. Such forward-looking
information is subject to various risks and uncertainties.
Forward-looking information in this news release includes, but is
not limited to, statements with respect to: (i) the economics and
potential returns associated with the Project; (ii) the
estimation of mineral reserves and mineral resources; (iii) the
technical viability of the Project; (iv) the market and future
price of battery-grade lithium carbonate, sulfuric acid and other
commodities; (v) the potential for future collaboration with
Ganfeng Lithium and other parties; (vi) the ability to work
cooperatively with other stakeholders, including local community
groups and all levels of government; (vii) the ability to build,
operate and sell electricity from, a sulfur-burning acid plant;
(vii) projected employment and other social benefits resulting from
the Project; (viii) the results of the PFS, including statements
about future production, mining methods, future operating and
capital costs, the projected IRR, NPV, construction timelines,
permit timelines and production timelines for the Project. Forward
looking information is subject to a variety of risks and
uncertainties and other factors that could cause actual events or
results to differ materially from those projected in the
forward-looking information, including, but not limited to, risks
relating to changes in Project parameters as plans continue to be
redefined, including the possibility that mining operations may not
commence at the Project, risks relating to variations in mineral
resources and mineral reserves, risks relating to the ability to
access infrastructure, risks relating to changes in the price of,
or worldwide demand for, battery-grade lithium carbonate, sulfuric
acid or other commodities, risks relating to increased competition
in the market for batter-grade lithium carbonate and related
products, risks relating to global financial conditions, reliance
on key personnel, operational risks inherent in the conduct of
mining activities, increases in capital or operating costs and the
risk of delays or increased costs that may be encountered during
the development and construction process, regulatory risks,
including risks relating to the acquisition of necessary permits
and licenses, financing risks, including the risk that funding
required for development and construction activities may not be
available on satisfactory terms or at all, environmental risks, and
the additional risks identified in the “Risk Factors” section of
Lithium America’s annual information form and other reports and
filings filed with applicable securities regulators. There can be
no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Forward-looking statements are 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.
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