Lithium Americas Steps Closer to Production at Argentinian Lithium and Potassium Resource

Lithium Americas has provided a timeline for the completion of the feasibility study for its Cauchari lithium and potassium resource in Argentina.

The timeline includes key milestones for the project report to be completed by end of next year for its flagship project. The preliminary economic assessment will be available by the first quarter of 2011.

The Toronto based Lithium Americas said that with the final feasibility study in hand it will be ready to take a construction decision by the final quarter of 2011. The shares of the company rose by 5.3% in Toronto to Canadian $ 1.20 each after the announcement.

The company had mentioned earlier in the year that it was targeting its first production in 2014 from the brines project located in Argentina’s Jujuy province. The President and Chief Executive Officer of Lithium Americas, Waldo Perez said that they were taking an aggressive but prudent approach to the development and commercialization of the Cauchari resource.

Lithium Americas Corp. is a company focused on the development of lithium and potassium projects in South America. The Company's principal and most advanced property comprises a significant portion of two adjacent Argentinean salt lakes or salares called Cauchari and Olaroz.