The PPG project consolidates three neighboring brine assets owned by Lithium Argentina and Ganfeng into a single development platform, forming one of the world’s largest undeveloped lithium brine resources, with a measured and indicated resource of 15.1 million tonnes of lithium carbonate equivalent (LCE).
The study outlines a 30-year project life with a production capacity of 150,000 t/y of LCE, to be developed in three 50,000 t/y stages. Stage 1 development is estimated at $1.1 billion, with total capital expenditure over the project’s life projected at $3.3 billion. Operating costs are forecast at $5,027 per tonne, with an all-in sustaining cost of $5,351 per tonne.
At a lithium carbonate price of $18,000 per tonne, the project delivers an after-tax NPV, using an 8% discount, of $8.1 billion and an internal rate of return (IRR) of 33%. Even at a conservative price of $12,000 per tonne, the IRR remains strong at 21%.
The project will employ a hybrid solar evaporation and direct lithium extraction process aimed at improving efficiency and minimising freshwater use.
“Together with Ganfeng, we are building on the success of Cauchari-Olaroz to advance Argentina’s next major lithium operation,” said Lithium Argentina CEO Sam Pigott.
“PPG represents a continuation of our proven partnership – combining disciplined execution, technical excellence and next-generation processing technology designed to enhance efficiency and minimise environmental impact.”
Pigott highlighted that receiving environmental approval for Stage 1 after a 14-month review reaffirms the partners’ commitment to sustainability and innovation.
“With strong support from the province of Salta and the federal government’s RIGI investment regime, PPG highlights our contribution to Argentina’s growing role in advancing a diversified and competitive global supply chain for lithium chemicals,” he added.
Under the joint venture, Ganfeng will hold a 67% interest in PPG and Lithium Argentina 33%. The partners are advancing financing discussions that include debt, offtake, and minority equity investment options, with the RIGI application targeted for the first half of 2026.
The PPG project combines Ganfeng’s processing expertise with Lithium Argentina’s in-country operational experience and builds on the partnership that delivered the successful Cauchari-Olaroz lithium project, one of Argentina’s flagship brine operations.
The integrated development positions PPG as a key contributor to Argentina’s lithium production, supporting global demand growth while advancing efficient and environmentally responsible lithium extraction methods.
