Ganfeng and LAR Argentina lithium project JV targets 150,000 t/yr LCE with DLE

Ganfeng lithium

Ganfeng and LAR Argentina lithium project JV will integrate three brine assets and deploy DLE at scale. The Ganfeng and LAR Argentina lithium project JV consolidates Pozuelos-Pastos Grandes, Pastos Grandes, and Sal de la Puna. As a result, the Ganfeng and LAR Argentina lithium project JV aims to build 150,000 t/yr LCE capacity in three phases.

JV structure, financing, and offtake

Ganfeng will control 67pc of Millennial, with LAR holding 33pc. The JV sits under LAR’s subsidiary, Millennial. Ganfeng will extend up to $130mn in financial assistance over six years. Meanwhile, LAR will supply an additional offtake equal to 6,000 t/yr LCE. That supply comes from LAR’s Phase 1 stake in Cauchari-Olaroz until Millennial ramps.

Technology, timeline signals, and regional significance

The JV will use direct lithium extraction to lift recovery and cut water intensity. However, the partners have not disclosed construction or start dates. Integration reduces duplication and accelerates project permitting. It also deepens Chinese–Western capital alignment in Argentina’s Lithium Triangle. Therefore, downstream buyers gain scale, diversification, and improved ESG narratives.

Millennial combines three brine projects into a single development path. Pozuelos-Pastos Grandes is fully owned by Ganfeng today. Pastos Grandes is 85pc LAR and 15pc Ganfeng. Sal de la Puna is 65pc LAR and 35pc Ganfeng. The new structure simplifies investment decisions for future phases.

Ganfeng’s operating base strengthens the JV’s execution. The company produced 130,253t LCE in 2024 across carbonate, hydroxide, chloride, and metal. It is ramping Cauchari-Olaroz toward 30,000–35,000t this year. That learning curve should de-risk Millennial’s early phases. In turn, battery-grade carbonate supply should scale faster.

The Metalnomist Commentary

Consolidation plus DLE is the right playbook in Argentina. Offtake pre-commitments bridge financing while Cauchari-Olaroz provides near-term cover. Watch for phased EPC awards, brine handling contracts, and pond-to-DLE hybrid designs as leading indicators.