Lithium Americas Corp. will acquire all of the shares it doesn’t already own of for Arena Minerals in a deal that that is valued at $227 million.
The acquisition gives Lithium Americas more access to the Pastos Grandes basin in Argentina.

“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,” Jonathan Evans, President and CEO of Lithium Americas said in press 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. The timing of the Transaction aligns with the Company’s previously announced plan to separate into two public companies in 2023, with significant project development activities expected at both businesses early next year.”

“We are very excited to enter into this transaction with Lithium Americas,” said Will Randall, President and CEO of Arena. “The Transaction allows Arena Shareholders to realize a meaningful and immediate premium and represents a unique opportunity to participate in the development of a larger, consolidated project as we work with the Lithium Americas team to advance the Pastos Grandes basin. In addition, this Transaction offers Arena Shareholders exposure to the world-class, near-term producing Caucharí-Olaroz project and the Thacker Pass advanced development project.”

Photo: The Pastos Grandes Lithium project in Argentina. Credit, of Lithium Americas.