Lithium Argentina Expands Cauchari-Olaroz Resource Estimate; Supports Stage 2 Development Plan
Resource expansion and operational maturity de-risk Stage 2 as Cauchari-Olaroz hits nameplate capacity
The most recent news (March 11, 2026) announces a massive update to the Mineral Resource Estimate (MRE) at the flagship Cauchari-Olaroz operation. Measured and Indicated (M&I) resources increased by 42% to 28.1 million tonnes (Mt) of Lithium Carbonate Equivalent (LCE), while Inferred resources jumped 104% to 9.6 Mt LCE. This expansion follows a successful 2025 where the company produced 34,100 tonnes of LCE (hitting the high end of 30k-35k guidance) and reduced cash operating costs to below $6,000/t in Q4. The company has officially submitted its RIGI (Incentive Regime for Large Investments) application for Stage 2, which targets an additional 45,000 tpa of capacity.
The news is Material - Positive. - Resource Scale: A 28.1 Mt M&I resource cements Cauchari-Olaroz as one of the largest lithium brine deposits globally. This scale provides the geological confidence required to sanction Stage 2 (45k tpa), which would more than double current production. - Operational De-risking: Achieving a 97% average operating rate in Q4 2025 and lowering costs below $6,000/t proves the technical viability of the flow sheet before committing billions to expansion. - Fiscal Incentives: The RIGI application is critical for Argentine projects, providing long-term tax and customs stability, which is essential for the $1.1B+ capital requirements of the PPG project and Stage 2 expansion. - Strategic Alignment: The resource expansion extends 20km south, suggesting the basin is far more prolific than initially modeled, potentially allowing for even higher extraction rates in the future.
Lithium Argentina (LAR) operates the Cauchari-Olaroz brine project in Jujuy, Argentina, in partnership with Ganfeng Lithium (46.7%) and JEMSE (8.5%). - Stage 1: 40,000 tpa LCE capacity, currently operating at ~90%+ utilization. - Stage 2: Planned 45,000 tpa expansion. - PPG Project: A regional consolidation of the Pozuelos-Pastos Grandes basins with Ganfeng, targeting a massive 150,000 tpa LCE capacity across three phases.