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Lithium Americas to acquire Arena Minerals for $227 million

Kitco Media
By Michael McCrae
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Lithium Americas (TSX: LAC) announced today that it is acquiring Arena Lithium for $227 million.

The companies said that the transaction is complementary.

“This transaction will consolidate the highly prospective Pastos Grandes basin, and creates an exciting opportunity for Lithium Americas, a Canadian incorporated and headquartered company, to add incremental growth in one of the most important lithium producing regions in the world,” said Jonathan Evans, president and CEO of Lithium Americas said in a news release. “The significant synergies between our two projects and a better understanding of the basin will enable us to advance development planning and maximize our growth pipeline in Argentina.”

Lithium Americas is advancing its Thacker Pass project in Nevada. A legal ruling on the project is expected early in 2023.

Last month Lithium Americas announced it was splitting into two companies with one focused on North American operations and the other on South American assets.

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Michael McCrae

Michael McCrae is leading Kitco's coverage of the mining sector. McCrae, who has both an MBA and CMA, knows how to build digital media properties. He was co-founder and publisher of MINING.com, an award-winning news site. Before coming to media, McCrae worked in IT and banking. Please reach out: mmccrae@kitco.com or (514) 670-1383. You can also follow him at @michaelmccrae.

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