Lithium Argentina produces 34,100 tonnes LiCO in 2025

Executive Summary

• Lithium Argentina AG released preliminary 2025 operational results for its Cauchari-Olaroz lithium brine operation, achieving production at the high end of annual guidance with a record fourth quarter.
• The company reported strong financial metrics, including cash operating costs below $6,000 per tonne and a significant reduction in net debt, while maintaining over $150 million in liquidity.
• Strategic expansion efforts are underway, with Stage 2 RIGI applications submitted for Cauchari-Olaroz and the Pozuelos-Pastos Grandes (PPG) project expected to be finalized in early 2026.

Key Details

• 2025 Production Volume: Full-year 2025 production totaled approximately 34,100 tonnes of lithium carbonate, meeting the high end of the guidance range of 30,000 to 35,000 tonnes.
• Q4 2025 Production: Fourth quarter production reached approximately 9,700 tonnes, operating at an average rate of 97% of nameplate capacity.
• Cost Metrics: Fourth quarter 2025 cash operating costs are expected to be below $6,000 per tonne of lithium carbonate sold, a decrease from $6,285 per tonne in Q3 2025, driven by operational optimization and higher volumes.
• Financial Position: The operation reduced net debt by $26 million in Q4, with $15 million distributed to partners Ganfeng and Lithium Argentina. The company holds over $150 million in liquidity from cash and available undrawn debt facilities.
• Expansion (Stage 2): In December, Cauchari-Olaroz submitted environmental permit and RIGI applications for a Stage 2 expansion targeting 45,000 tonnes per annum of additional lithium carbonate production capacity.
• PPG Project: The RIGI application for the Pozuelos-Pastos Grandes (PPG) project is being finalized and is expected to be submitted during the first quarter of 2026.
• Future Reporting: The company will provide detailed analysis of full-year and Q4 2025 results when reporting quarterly and full-year financial results in March 2026.

Notable Quotes

• "The performance achieved at Cauchari-Olaroz in 2025 represents a significant milestone, reflecting the successful establishment of Argentina's largest lithium operation and another year of disciplined execution across the organization," said Sam Pigott, chief executive officer of Lithium Argentina.
• "Strong production through the fourth quarter, together with continued cost reductions, highlights the increasing operational maturity of the business and positions us well for the next stage of growth as we advance stage 2 at Cauchari-Olaroz and progress the PPG project." — Sam Pigott, CEO