The lithium batteries' cell manufacturing plant in Berisso, La Plata, will open in September, an event top government officials are expected to attend. The plant will generate 15 megawatts per year, which means it will produce lithium batteries capable of powering 2500 households. The batteries are Contact online >>
The lithium batteries'' cell manufacturing plant in Berisso, La Plata, will open in September, an event top government officials are expected to attend. The plant will generate 15 megawatts per year, which means it will produce lithium batteries capable of powering 2500 households. The batteries are envisaged for use in rural areas.
Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them toward production in order to meet the growing global demand from the battery sector.
The agreement with Argentina''s state-owned mining company Jujuy Energía y Minería Sociedad del Estado (JEMSE) provides for the establishment of a joint venture, provisionally named Gotion Jujuy Mining, to build and operate a refinery for battery-grade lithium carbonate in the Perico free trade zone in Jujuy province.
Argentina currently has three operational plants to produce lithium carbonate, the key component of lithium-ion batteries. But as many as 38 projects concentrated in the country''s north-west are in the exploratory stage and could start production in the next five years. In 2022, some 33,000 tonnes of lithium carbonate were produced – around
At full capacity, the Centenario Phase 1 plant will produce 24,000 t/year 1 battery-grade lithium carbonate equivalent (''LCE''), equivalent to the requirements for 600,000 electric vehicles/year. Production will be very limited in 2024.
Vancouver, BC / CNW / September 27, 2023 / Argentina Lithium & Energy Corp. (TSX-V: LIT, FSE: OAY3, OTC: PNXLF), ("Argentina Lithium" or the "Company") is pleased to announce that it has entered into a definitive agreement (the "Investment Agreement") on September 26, 2023, for the ARS$ equivalent of a US$90 million1 investment in Argentina Litio y Energia S.A. ("ALE"), by Stellantis (defined below) (the "Transaction"), one of the world''s leading automakers and mobility providers with iconic brands including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, RAM, Vauxhall, Free2Move and Leasys.
Pursuant to the Transaction, Peugeot Citroen Argentina S.A., a subsidiary of Stellantis N.V. ("Stellantis"), has agreed to invest the ARS$ equivalent of US$90 million1in Argentina to acquire shares of ALE (the "ALE Shares"). Further, the Company has granted Stellantis the Exchange Right (as defined below) to exchange all of the ALE Shares for up to 19.9% of the outstanding common shares of Argentina Lithium (on an undiluted basis) ("Common Shares") in the future, subject to certain conditions. The proceeds of the Transaction will be used to advance development of the Company''s lithium projects held through its wholly owned subsidiary in Argentina, and for general corporate purposes.
As a result of the Transaction, Stellantis will own 19.9% of the issued and outstanding ALE Shares and Argentina Lithium will own 80.1%.
Argentina Lithium President & Chief Executive Officer Nikolaos Cacos said:"We are delighted to have Stellantis as a partner in the future development of our lithium projects in Argentina. Together, we share a vision to build a sustainable lithium mining operation for the future. We look forward to a strong and successful relationship with Stellantis and we are committed to delivering a sustainable lithium product that will contribute to the electrification of transportation and the protection of our atmosphere."
Argentina Lithium, ALE and Stellantis will enter into a Shareholders'' Agreement (the "Shareholders'' Agreement") relating to ALE and Stellantis'' ownership of ALE Shares and provides for the following principal terms:
In addition, upon exercise of the Exchange Right, Argentina Lithium will enter into an Investor Rights Agreement with Stellantis (the "Stellantis IRA"). The Stellantis IRA provides for the following principal terms in favour of Stellantis:
Transaction Conditions and Timing
Closing of the Transaction is subject to Argentina Lithium obtaining TSXV approval, ALE completing certain corporate actions relating to the Transaction and other closing conditions set out in the Investment Agreement.
The Transaction is anticipated to close on or about October 4, 2023.
Advisors and Fairness Opinions
PI Financial Corp. is acting as financial advisor to Argentina Lithium in connection with the Transaction. The Board of Directors of Argentina Lithium has received a fairness opinion from PI Financial Corp, stating that, as of the date of such opinion, and based upon and subject to the assumptions, limitations and qualifications stated in such opinion, the consideration to be received by the Company pursuant to the Transaction is fair, from a financial point of view, to Argentina Lithium shareholders. Blakes, Cassels & Graydon LLP acted as Canadian legal counsel and Alfaro-Abogados SC acted as Argentinian legal counsel to Argentina Lithium in connection with the Transaction.
Stellantis N.V. (NYSE: STLA /Euronext Milan: STLAM / Euronext Paris: STLAP) is one of the world''s leading automakers and a mobility provider. Its storied and iconic brands embody the passion of their visionary founders and today''s customers in their innovative products and services, including Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, RAM, Vauxhall, Free2Move and Leasys. Powered by their diversity, Stellantis leads the way the world moves – aspiring to become the greatest sustainable mobility tech company, not the biggest, while creating added value for all stakeholders as well as the communities in which it operates. For more information, visit
Argentina Lithium & Energy Corp is focused on acquiring high quality lithium projects in Argentina and advancing them toward production in order to meet the growing global demand from the battery sector. The management group has a long history of success in the resource sector of Argentina and has assembled a first-rate team of experts to acquire and advance the best lithium properties in the "Lithium Triangle". The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
"Nikolaos Cacos"_______________________________Nikolaos Cacos, President, CEO and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
1 As per the official exchange rate of Argentina Central Bank
#Argentina #Centenario Lithium #Eramine #Lithium
With the start of our first Centenario plant, Eramet will become a key global player in the sustainable production of lithium, a critical metal for the batteries of electric vehicles.
This inauguration confirms our technological and sustainable leadership across the entire lithium value chain, from exploration to extraction and processing.
This success is the result of a collective achievement, combining the expertise and commitment of our teams, our partnership with Tsingshan, the support of Argentina’s regional and national authorities and a strong and respectful relationship built with local communities since the start of the project.
The lithium produced by Eramet in Centenario, with the objective of meeting the IRMA responsible mining standard, will be much valuable for our customers.
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