Lithium Argentina AG has completed its $180 million strategic financing from Ganfeng Lithium Group Co., Ltd., securing funds to retire upcoming debt and fund ongoing expansion work in Argentina.

The transaction was executed through a six-year unsecured convertible note carrying a 4.0% annual coupon. The note is convertible into common shares at $12.50 each. Net proceeds from the placement, alongside existing cash on hand, will fully repay the company's $259 million in convertible notes due in January 2027.

Ganfeng currently holds approximately a 9.6% interest in Lithium Argentina. Full conversion of the new note would issue 14.4 million additional common shares, lifting the partner's fully diluted stake to about 16.1%. The closing of the financing coincides with the expected finalisation of the Pozuelos-Pastos Grandes joint venture, which links three contiguous brine properties in Salta province into a unified development platform. That project previously outlined a scoping study capacity targeting 150,000 tonnes per annum of lithium carbonate equivalent across three phases.

“With the funds from the Strategic Investment and cash distributions from Cauchari-Olaroz, Lithium Argentina now has a materially stronger balance sheet, with lower net debt, a six-year maturity profile and a low cost of capital. That combination gives us the flexibility to advance Stage 2 at Cauchari-Olaroz and support PPG in a disciplined, phased approach that limits equity dilution and unlocks the value of both assets for our shareholders.” — Sam Pigott, CEO

Beyond its interests in Salta, Lithium Argentina operates the producing Cauchari-Olaroz lithium brine operation in Jujuy province alongside its major shareholder. The company continues to direct operational cash flow from that asset toward debt reduction and regional development.

Activity across the wider district remains active as other operators advance local brine properties. Notably, Liontown Limited reported executing a binding farm-in agreement to acquire up to a 100% interest in the Centenario lithium brine project, backed by a planned project expenditure of US$40 million.

Read the full announcement: Lithium Argentina Announces Closing of $180M Strategic Investment from Ganfeng