{"success":true,"data":{"pressRelease":{"id":"157252","rtpr_id":"nGNX2gYl3b-20260930","ticker":"LAR","exchange":"NYSE","all_tickers":["LAR","LIT","ZV5"],"title":"Lithium Argentina Announces Cauchari-Olaroz Stage 2  Scoping Study Results and Acceleration of Initial Phase of 10,000 tpa ","author":"Globe Newswire","published_at":"2026-09-30T20:05:00.714Z","article_body":"ZUG, Switzerland, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Lithium Argentina AG\n(“Lithium Argentina” or the “Company”) (TSX: LAR) (NYSE: LAR)\nannounced the results of a Scoping Study (the “Scoping Study”) for the\nCauchari-Olaroz Stage 2 Expansion Project (“Stage 2” or the “Expansion\nProject”) in Jujuy Province, Argentina.\n\nThe Scoping Study supports a brownfield expansion designed to produce an\nadditional 45,000 tonnes per annum (“tpa”) of lithium carbonate at\nCauchari-Olaroz. The Scoping Study generated an after-tax NPV(8%) of $3.1\nbillion and IRR of 28.5% using a lithium carbonate price of $18,000/t.\n\nConcurrently, the Company is proceeding with plans to accelerate an initial\n10,000 tpa (the “Initial Phase”) of the planned 45,000 tpa Stage 2\nexpansion using adsorption Direct Lithium Extraction (“DLE”) technology,\nsubject to receipt of applicable regulatory approvals and permits, including\nthose required in connection with the procurement and deployment of certain\ntechnology and equipment. The initial module would provide an opportunity to\naccelerate incremental production, further demonstrate adsorption DLE\nperformance on a commercial scale and support the phased development of Stage\n2. This optionality allows the Company to continue optimizing process\nselection based on recovery, capital intensity, operating costs and execution\nconsiderations while leveraging the existing infrastructure and operating\nplatform at Cauchari-Olaroz.\n\nHighlights:\n* 45,000 tpa Lithium Carbonate Equivalent (“LCE”) Expansion: Stage 2 is\ndesigned to produce 45,000 tpa of LCE, increasing total Cauchari-Olaroz\nproduction capacity to approximately 85,000 tpa, with an expected 40-year\noperating life.\n* Compelling Economics: At $18,000/t lithium carbonate, after-tax NPV(8%) of\n$3.1 billion and IRR of 28.5%.\n* Competitive Cost Profile: Estimated operating costs of US$5,006/t of lithium\ncarbonate, supported by higher process recoveries and brownfield synergies.\n* Flexible Hybrid DLE Processing: The characteristics of the Cauchari-Olaroz\nbrine and existing infrastructure provide flexibility to optimize the\nprocessing approach based on cost, technical performance and environmental\nconsiderations.\n* Phased Development Approach:  Accelerated initial 10,000 tpa of the planned\n45,000 tpa Stage 2 expansion using adsorption-based DLE technology, expected\nonline during 2028, subject to permitting and regulatory approvals, including\nthe required approvals in Argentina and China related to the deployment and\ntransfer of the adsorption-based processing technology. The accelerated timing\nof this initial capacity is not reflected in the Scoping Study or its economic\nanalysis.\n* Capital-Efficient Expansion: Initial capital cost of approximately US$1.0\nbillion, reflecting the advantages of expanding an established operating\nasset.\n* RIGI Approved: The project has received approval under Argentina's Régimen\nde Incentivo para Grandes Inversiones (“RIGI”), providing long-term fiscal\nstability and investment incentives that enhance long-term project economics.\n* Financially Supported by Stage 1: The Company expects to fund Stage 2\nthrough internally generated cash flow and project-level debt, leveraging the\ncash flow generation of the existing operation.\nSam Pigott, CEO of Lithium Argentina, commented:\n\n“The Scoping Study confirms the significant value in expanding\nCauchari-Olaroz, with an after-tax NPV of US$3.1 billion. Building on the\nstrong performance of the existing operation, we will pursue a flexible,\nmodular approach to Stage 2 development.\n\n“We are moving immediately to advance a 10,000 tpa first phase using\nadsorption technology. It is the fastest and most capital-efficient path to\nincremental production, leveraging the existing infrastructure and permits,\nwith a target for first production within two years.\n\n“With RIGI approval secured and multiple funding pathways available, we have\nsignificant flexibility in how we advance Cauchari-Olaroz. More broadly,\nstrong cash flow from the operation and the formation of the PPG joint venture\nposition us to advance both of our core assets in parallel with our partners,\nwith a disciplined focus on deploying capital where it generates the strongest\nreturns for shareholders.”\n\nA technical report, prepared by Golder Associates (“Golder”), in\naccordance with National Instrument 43-101 Standards of Disclosure for Mineral\nProjects (“NI 43-101”) and Subpart 1300 of Regulation S-K (“S-K\n1300”), will be filed within 45 days. Unless otherwise indicated, all\nfigures are in U.S. dollars and on a 100% basis.\n\nStage 2 Scoping Study Results - Summary(1)\n\n Key Results                                                                 \n Operating Profile                                                           \n Existing Capacity                                          40,000 tpa LCE   \n Scoping Study Expansion Annual Production under RIGI       45,000 tpa LCE   \n Total Cauchari-Olaroz Production Capacity after Expansion  85,000 tpa LCE   \n Scoping Study Expansion Project life                       40 years         \n Processing                                                 Hybrid (SX) DLE  \n Economic Parameters (2)                                                     \n Lithium Carbonate Price                                    $18,000 / t      \n NPV (8%)                                                   $3.1 B           \n IRR                                                        28.5%            \n Payback                                                    5 years          \n Financial Metrics                                                           \n Capital Costs                                              $1.0 B           \n Initial Capital Intensity                                  $22,530 / t      \n Operating Costs                                            $5,006 / t       \n                                                                             \n\n__________________________\n\n(1) All dollar figures are in United States dollars and are on a 100% basis\nunless otherwise indicated.\n(2) After-tax economic results.\n\nInitial Phase Development Strategy \n\nThe Scoping Study evaluates the economics of a single 45,000 tpa expansion.\n The recovery method evaluated in the Scoping Study is based on brine\npre-concentration followed by solvent extraction, and the capital costs,\noperating costs, production schedule and economic analysis presented have been\ndeveloped on that basis. The Company intends to advance Stage 2 through a\nphased development strategy designed to reduce execution risk and advance the\noverall development plan. The Initial Phase will allow for an accelerated\n10,000 tpa, leveraging existing infrastructure and permits.\n\nKey elements of the Initial Phase include:\n* Permitting: The Company is advancing the required permitting and regulatory\napprovals for the Initial Phase, including the required approvals in Argentina\nand China related to the deployment and transfer of the adsorption-based\nprocessing technology. All required permits and regulatory approvals are\ncurrently targeted to be received during the first half of 2027.\n* Equipment supply: Engineering of the modular plant has commenced in China,\nwhich will subsequently be manufactured, shipped and assembled at the\nCauchari-Olaroz site. Export of this technology from China is subject to\nChinese regulatory authorization, which has not yet been obtained. Module\nengineering is proceeding in advance of receipt of this authorization.\n* Early works: Early-stage site works, including additional brine well\ndevelopment, activities that will also support the broader Stage 2 expansion,\nare underway to support the expansion Initial Phase.\nSpecific capital expenditure requirements for the Initial Phase will be\navailable once detailed engineering is completed later this year, with the\n2027 capex budget to be finalized accordingly. The capital required for the\nInitial Phase is not expected to increase the Scoping Study's total estimated\ncapital expenditure. The phased approach also preserves flexibility to pace\nthe broader expansion in line with market conditions, while allowing the\nInitial Phase to satisfy the minimum investment requirements under RIGI.\n\nThe proposed accelerated development of the Initial Phase, including its\ncapital requirements and development schedule, is not reflected in the Scoping\nStudy or its economic analysis. \n\nStage 2 Development Strategy \n\nThe Scoping Study establishes a technically de-risked, industry-comparable\neconomic base case for the full 45ktpa expansion using SX, a proven DLE\ntechnology available for study now. The Initial Phase reflects the Company's\npreferred near-term execution path, selected for its cost and permitting\nadvantages. These activities are expected to include additional production and\nexploration drilling, brine gathering and pipeline infrastructure, industrial\nwater development and site preparation. Advancing this work alongside the\ninitial module is expected to support the subsequent development of the\nremaining Stage 2 capacity.\n\nThe remaining 35,000 tpa of Stage 2 capacity will complete the expansion to\n45,000 tpa, increasing total production capacity at Cauchari-Olaroz to\napproximately 85,000 tpa. The expansion is designed to integrate DLE capacity\nwith the existing evaporation-based process, increasing lithium recovery while\ncontinuing to utilize the established evaporation ponds and lithium carbonate\nprocessing facilities.\n\nThe ability to expand adsorption technology beyond the Initial Phase of 10,000\ntpa — for part or all of the remaining expansion — is contingent on\nfurther technical work, including demonstrating water consumption performance\non a commercial scale and/or securing additional water resources. Adsorption\nhas economic benefits, as well as a reduced footprint and water consumption\nperformance will be assessed during operation of the Initial Phase of 10,000\ntpa and is expected to help determine the applicability of adsorption\ntechnology for the balance of the expansion.\n\nThe Environmental Impact Assessment (“EIA”) application for the full\n45,000 tpa expansion has been submitted, with environmental approval currently\nanticipated during 2027.\n\nOperating Costs\n\nAverage life of project costs for the 45,000 tpa expansion are summarized\nbelow.\n\n Operating Costs – Expansion Project    ($ per tonne)  \n Category                                              \n Reagents                               $1,734         \n Power & Energy                         $472           \n Labour                                 $609           \n Maintenance                            $408           \n Salts harvesting & Disposal            $776           \n G&A                                    $213           \n Others                                 $555           \n Sub-Total                              $4,768         \n Contingency                            $238           \n Total                                  $5,006         \n                                                       \n\nCapital Costs\n\nThe capital cost for life of Stage 2 is estimated at $1.0 billion, inclusive\nof contingency, based on construction and are based on Argentine costs for\nlabor and materials. This reflects a total capital intensity of approximately\n$22,500 per tonne of annual LCE production.\n\nThe estimated capital cost benefits from leveraging existing infrastructure,\nutilities and operating facilities at Cauchari-Olaroz are summarized below:\n\n Capital Cost – Life of Project                   ($ millions)  \n Wellfield, Ponds and Brine Systems               $421          \n Processing Plants                                $356          \n Infrastructure/Power/TMA Costs                   $208          \n Owner Costs                                      $28           \n Total Capital Costs (including contingency) (3)  $1,013        \n                                                                \n\nThe Scoping Study contemplates a staged development underpinned by both\nexisting site infrastructure and new process facilities. Wellfield, ponds and\nbrine system infrastructure are largely related to the construction of these\nitems. Plants capital costs include all the capital for the lithium plant,\nincluding: DLE plant, purification plant, utilities and LCE processing\nfacilities.\n\nInfrastructure, Power/Tailing Management Area (“TMA”) and energy costs\nrelate to water supply, transformers, warehouse office buildings, camps,\neffluent plant, and waste yard infrastructure, power lines, fuel plant and\nemergency generation and salts disposal costs. \n\n__________________________\n\n(3) Initial capital costs include contingency applied by cost category.\n\nRIGI\n\nStage 2 has received approval under RIGI. The Scoping Study incorporates the\nbenefits associated with the approved RIGI framework, including enhanced\nfiscal stability, a reduced corporate income tax rate, accelerated\ndepreciation and foreign exchange benefits, strengthening the project's\nlong-term economics.\n\nStage 2 Valuation Price Sensitivities and Returns\n\nThe financial results are derived from inputs based on an annual production\nschedule included in the Scoping Study with an incremental after-tax NPV(8%)\nof $3 billion. A sensitivity analysis of long-term lithium carbonate price on\nthe economic results for the 45,000 tpa of LCE over a 40-year operating\nperiod is summarized below.\n\n Key Parameters           Scenario 1  Scenario 2 (Base Case)  Scenario 3  \n Lithium Carbonate Price  $16,000/t   $18,000/t               $20,000/t   \n After-Tax NPV (8%)       $2.5B       $3.1B                   $3.7B       \n After-Tax IRR            25.3%       28.5%                   31.4%       \n Payback (years)          ~6          ~5                      ~5          \n                                                                          \n\nMineral Resource\n\nThe January 2026 resource update supports Cauchari-Olaroz’ large-scale and\nhigh-quality lithium brine Deposit. Total M&I resources increased LCE\nestimates by 42% compared to the 2019 estimate, including a significant\nincrease in Measured resources reflecting additional drilling, incorporation\nof operating data, increased resource area and basin-wide hydrogeological\nmodeling. The improved geological and aquifer understanding strengthens\nconfidence in the resource base and supports the Stage 2 expansion.\n\nMineral Resource Estimation \n\nThe Mineral Resources for Stage 2 as described in the Scoping Study are\nsummarized in the table below.\n\n Resource Category  Cauchari-Olaroz      \n                    Li (mg/L)  LCE (Mt)  \n Measured           557        16.8      \n Indicated          571        11.3      \n Total M&I          562        28.1      \n Inferred           567        9.6       \n                                         \n\nNotes:\n1. LCE is calculated using the Li:LCE factor = 5.322785 multiplied by the mass\nof Lithium\n2. Mineral Resources are not mineral reserves and do not have demonstrated\neconomic viability. There is no certainty that all or any part of the mineral\nresource will be converted to mineral reserves.\n3. The Mineral Resource Estimate represented as LCE for Cauchari-Olaroz has an\neffective date of January 1, 2026, and it is expressed relative to the\ndelineated resource area.\n4. The qualified person for the Mineral Resource Estimate is Mark King, PhD\nPGeo., FGC, a “qualified person” as defined in National Instrument 43-101,\nwho is independent of the Company. The qualified person is not aware of any\nknown legal, political, environmental or other risks that could materially\naffect the potential development of the Mineral Resources.\n5. No cut-off values have been applied to the resource estimate.\n6. Stage 2 economics are not based on Inferred Mineral Resources.\nNext Steps\n\nThe Company intends to continue advancing Stage 2 through engineering,\npermitting and early development activities while progressing toward a future\ndevelopment decision. Key activities are expected to include:\n* Advance Early Works Strategy: Continue early development activities under\nexisting permits, including production and exploration drilling, industrial\nwater development and site preparation activities. * Continue detailed\nengineering and optimization of the Stage 2 expansion, incorporating\noperational learnings from the existing Cauchari-Olaroz operation.\n \n* Modular DLE Development: Progress project and engineering of the initial\nmodular DLE facility, expected to produce approximately 10,000 tpa LCE.\n* Environmental Permitting: Advance the EIA for the full 45,000 tpa expansion.\n* Project Financing: Advance financing activities consistent with the\nCompany's strategy to fund Stage 2 through internally generated cash flow and\nproject-level debt.\nNon-IFRS Measures\n\nOperating cash costs per tonne are non-IFRS measures or ratios and do not have\na standardized meaning under IFRS and may not be comparable to similar\nfinancial measures used by other issuers.  The Company believes that this\nmeasure provides investors with an improved ability to evaluate the prospects\nof the Company and Stage 2.  As Stage 2 is not in production, operating cash\ncost may not be reconciled to the nearest comparable measures under IFRS and\nnor an equivalent historical non-IFRS measure for Stage 2.\n\n Operating Cash Cost                        $ per tonne of LCE  \n Projected Operating Cash Cost – Stage 2    $5,006 (4)          \n                                                                \n\nScientific & Technical Information and Qualified Persons\n\nThe scientific and technical information in this news release has been\nreviewed and approved by the independent qualified persons (“QPs”) listed\nbelow, each of whom is a “qualified person” as defined in NI 43-101.\n* James Wang, P.E., Director, Golder.\n* Mark King, PhD. PGeo., FGC\n* David Burga, P. Geo\nReport Filing\n\nThe Company will file a technical report prepared in accordance with NI\n43-101with respect to the Scoping Study on SEDAR+ (http://www.sedarplus.ca and\non the Company's website (http://www.lithium-argentina.com) within 45 days of\nthis news release.\n\nFor U.S. reporting purposes, the Company intends to furnish this news release\non Form 6-K and to file a Technical Report Summary (TRS) prepared in\naccordance with Subpart 1300 of Regulation S-K. The TRS will be prepared by,\nor under the supervision of, a qualified person as defined in S-K 1300 and\nwill summarize the material scientific and technical information supporting\nthe Scoping Study.\n\n__________________________\n\n(4) Operating cost is defined as the net direct cash cost, or simply the cost\nof production including the costs of mining, processing, transportation,\nmarketing, and onsite administration.\n\nABOUT LITHIUM ARGENTINA\n\nLithium Argentina owns and actively manages significant interests in\nlarge-scale lithium assets, a key material used in the production of\nlithium-ion batteries, electric vehicles, and battery energy storage systems\n(BESS). The Company, in partnership with Ganfeng operates the Cauchari-Olaroz\nlithium brine operation in the Jujuy province of Argentina and is advancing\nPPG in the Salta province of Argentina. Lithium Argentina currently trades on\nthe TSX and on the NYSE under the ticker “LAR”.\n\nFor further information contact:\nInvestor Relations\nTelephone: +1 778-653-8092\nEmail: kelly.obrien@lithium-argentina.com\nWebsite: http://www.lithium-argentina.com\n\nFORWARD-LOOKING INFORMATION\n\nThis news release contains “forward-looking information” and\n“forward-looking statements” (which we refer to collectively as\nforward-looking information) under the provisions of applicable securities\nlegislation. Forward-looking information can be identified by the use of words\nsuch as seek”, “anticipate”, “plan”, “continue”, “estimate”,\n“expect”, “may”, “will”, “project”, “predict”,\n“propose”, “potential”, “target”, “intend”, “could”,\n“might”, “should”, “believe”, “scheduled”, “implement” and\nsimilar words or expressions. All statements, other than statements of\nhistorical fact, are forward-looking information. Forward-looking information\nin this news release include, without limitation, information with respect to\nthe following matters or the Company’s expectations relating to such\nmatters:  the timing of the filing of the technical report for the Scoping\nStudy and TRS; and the anticipated benefits therefrom; , including the\ninvolvement of third-party investors, the timing and filing of applicable\npermitting applications; the use and effects of DLE technology; the results of\nthe Scoping Study, including, without limitation, expected project life,\nproduction, capital and operating costs, IRR, NPV and other economic and\noperating parameters of Stage 2 at Cauchari; mineral resource estimates; and\nthe timing and amount of future production and expected capacity of production\nof Stage 2; anticipated costs of the Initial Phase, timing of approvals and\nauthorizations thereforand the potential benefits derived therefrom; \nexpectations with respect to funding the Stage 2 expansion; the development\nstrategy for Stage 2 and the Initial Phase; expected benefits of RIGI approval\nand possible multiple pathways to fund development and the actions outlined\nunder “Next Steps”.\n\nForward-looking information may involve known and unknown risks, assumptions\nand uncertainties which may cause the Company’s actual results or\nperformance to differ materially. This information reflects the Company’s\ncurrent views with respect to future events and is necessarily based upon a\nnumber of assumptions that, while considered reasonable by the Company today,\nare inherently subject to significant uncertainties and contingences, and\naccordingly, the Company can give no assurance that these assumptions and\nexpectations will prove to be correct. With respect to forward-looking\ninformation included in this news release, the Company has made assumptions\nregarding, among other things: current technological trends; the business\nrelationship between the Company and Ganfeng; ability to fund its operations;\nthe ability to operate in a safe and effective manner; uncertainties relating\nto obtaining and/or maintaining mining, exploration, development,\nenvironmental and other permits or approvals in Argentina; demand for lithium;\nimpact of increasing competition in the lithium business, including the\nCompany’s competitive position in the industry; general economic conditions;\nstability and support of legislative, regulatory and community environment in\nthe jurisdiction where it operates; estimates of and changes to market prices\nfor lithium and commodities; estimates costs for the project or operation;\nestimates of mineral resources and mineral reserves, including whether mineral\nresources will ever be developed into mineral reserves; reliability of\ntechnical data; and the ability to achieve full production; and accuracy of\nbudget and estimates. Forward-looking information also involves known and\nunknown risks that may cause actual results to differ materially, these risks\ninclude, among others: risk inherent to studies such as the Scoping Study,\nwhich are subject to significant assumptions and a high degree of uncertainty;\nrisk that the Company may not be able to obtain the anticipated benefits from\nthe RIGI regime as anticipated, or at all; risk that the Company may not be\nable to fund or finance the development of Stage 2 and/or the Initial Phase as\ncontemplated, or at all;  risk that the Company will not be able to implement\nDLE technology; the operations may not operate and produce as planned; cost\noverruns; market prices affecting development of the operation; risks\nassociated with co-ownership arrangements; risks with ability to successfully\nsecure adequate financing if necessary; risks to the growth of the lithium\nmarkets; lithium prices; inability to obtain any future required governmental\npermits and approvals and that operations may be limited by government-imposed\nlimitations; technology risk; inability to achieve and manage expected growth;\npolitical risk associated with foreign operations, including co-ownership\narrangements with foreign domiciled partners; emerging and developing market\nrisks; operational risks; changes in government regulations; changes in\nenvironmental requirements; failure to obtain or maintain necessary licenses,\npermits or approvals; insurance risk; receipt and security of mineral property\ntitles and mineral tenure risk; changes in project or operation parameters;\nuncertainties associated with estimating mineral resources and mineral\nreserves, including uncertainties regarding assumptions underlying such\nestimates; whether mineral resources will ever be converted into mineral\nreserves; opposition to the; geological or technical or processing problems;\nliabilities and risks; health and safety risks; unanticipated results;\nunpredictable weather; unanticipated delays; reduction in demand for lithium;\ninability to generate profitable operations; restrictive covenants in debt\ninstruments; intellectual property risks; dependency on key personnel;\ncurrency and interest rate fluctuations; and volatility in general market and\nindustry conditions. Additional risks, assumptions and other factors are set\nout in the Company’s management discussion analysis, most recent Annual\nReport on Form 20-F, and other disclosure documents copies of which are\navailable on SEDAR+ at www.sedarplus.ca\n\nAlthough the Company has attempted to identify important risks and\nassumptions, given the inherent uncertainties in such forward-looking\ninformation, there may be other factors that cause results to differ\nmaterially. Forward-looking information is made as of the date hereof and the\nCompany does not intend, and expressly disclaims any obligation to, update or\nrevise the forward-looking information contained in this news release, except\nas required by law. Accordingly, readers are cautioned not to place undue\nreliance on forward-looking information. \n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX2gYl3b-20260930","title":"Lithium Argentina Announces Cauchari-Olaroz Stage 2  Scoping Study Results and Acceleration of Initial Phase of 10,000 tpa ","author":"Globe Newswire","ticker":"LAR","created":"2026-09-30T20:05:00.714Z","tickers":["LAR","LIT","ZV5"],"exchange":"NYSE","article_body":"ZUG, Switzerland, Sept. 30, 2026 (GLOBE NEWSWIRE) -- Lithium Argentina AG\n(“Lithium Argentina” or the “Company”) (TSX: LAR) (NYSE: LAR)\nannounced the results of a Scoping Study (the “Scoping Study”) for the\nCauchari-Olaroz Stage 2 Expansion Project (“Stage 2” or the “Expansion\nProject”) in Jujuy Province, Argentina.\n\nThe Scoping Study supports a brownfield expansion designed to produce an\nadditional 45,000 tonnes per annum (“tpa”) of lithium carbonate at\nCauchari-Olaroz. The Scoping Study generated an after-tax NPV(8%) of $3.1\nbillion and IRR of 28.5% using a lithium carbonate price of $18,000/t.\n\nConcurrently, the Company is proceeding with plans to accelerate an initial\n10,000 tpa (the “Initial Phase”) of the planned 45,000 tpa Stage 2\nexpansion using adsorption Direct Lithium Extraction (“DLE”) technology,\nsubject to receipt of applicable regulatory approvals and permits, including\nthose required in connection with the procurement and deployment of certain\ntechnology and equipment. The initial module would provide an opportunity to\naccelerate incremental production, further demonstrate adsorption DLE\nperformance on a commercial scale and support the phased development of Stage\n2. This optionality allows the Company to continue optimizing process\nselection based on recovery, capital intensity, operating costs and execution\nconsiderations while leveraging the existing infrastructure and operating\nplatform at Cauchari-Olaroz.\n\nHighlights:\n* 45,000 tpa Lithium Carbonate Equivalent (“LCE”) Expansion: Stage 2 is\ndesigned to produce 45,000 tpa of LCE, increasing total Cauchari-Olaroz\nproduction capacity to approximately 85,000 tpa, with an expected 40-year\noperating life.\n* Compelling Economics: At $18,000/t lithium carbonate, after-tax NPV(8%) of\n$3.1 billion and IRR of 28.5%.\n* Competitive Cost Profile: Estimated operating costs of US$5,006/t of lithium\ncarbonate, supported by higher process recoveries and brownfield synergies.\n* Flexible Hybrid DLE Processing: The characteristics of the Cauchari-Olaroz\nbrine and existing infrastructure provide flexibility to optimize the\nprocessing approach based on cost, technical performance and environmental\nconsiderations.\n* Phased Development Approach:  Accelerated initial 10,000 tpa of the planned\n45,000 tpa Stage 2 expansion using adsorption-based DLE technology, expected\nonline during 2028, subject to permitting and regulatory approvals, including\nthe required approvals in Argentina and China related to the deployment and\ntransfer of the adsorption-based processing technology. The accelerated timing\nof this initial capacity is not reflected in the Scoping Study or its economic\nanalysis.\n* Capital-Efficient Expansion: Initial capital cost of approximately US$1.0\nbillion, reflecting the advantages of expanding an established operating\nasset.\n* RIGI Approved: The project has received approval under Argentina's Régimen\nde Incentivo para Grandes Inversiones (“RIGI”), providing long-term fiscal\nstability and investment incentives that enhance long-term project economics.\n* Financially Supported by Stage 1: The Company expects to fund Stage 2\nthrough internally generated cash flow and project-level debt, leveraging the\ncash flow generation of the existing operation.\nSam Pigott, CEO of Lithium Argentina, commented:\n\n“The Scoping Study confirms the significant value in expanding\nCauchari-Olaroz, with an after-tax NPV of US$3.1 billion. Building on the\nstrong performance of the existing operation, we will pursue a flexible,\nmodular approach to Stage 2 development.\n\n“We are moving immediately to advance a 10,000 tpa first phase using\nadsorption technology. It is the fastest and most capital-efficient path to\nincremental production, leveraging the existing infrastructure and permits,\nwith a target for first production within two years.\n\n“With RIGI approval secured and multiple funding pathways available, we have\nsignificant flexibility in how we advance Cauchari-Olaroz. More broadly,\nstrong cash flow from the operation and the formation of the PPG joint venture\nposition us to advance both of our core assets in parallel with our partners,\nwith a disciplined focus on deploying capital where it generates the strongest\nreturns for shareholders.”\n\nA technical report, prepared by Golder Associates (“Golder”), in\naccordance with National Instrument 43-101 Standards of Disclosure for Mineral\nProjects (“NI 43-101”) and Subpart 1300 of Regulation S-K (“S-K\n1300”), will be filed within 45 days. Unless otherwise indicated, all\nfigures are in U.S. dollars and on a 100% basis.\n\nStage 2 Scoping Study Results - Summary(1)\n\n Key Results                                                                 \n Operating Profile                                                           \n Existing Capacity                                          40,000 tpa LCE   \n Scoping Study Expansion Annual Production under RIGI       45,000 tpa LCE   \n Total Cauchari-Olaroz Production Capacity after Expansion  85,000 tpa LCE   \n Scoping Study Expansion Project life                       40 years         \n Processing                                                 Hybrid (SX) DLE  \n Economic Parameters (2)                                                     \n Lithium Carbonate Price                                    $18,000 / t      \n NPV (8%)                                                   $3.1 B           \n IRR                                                        28.5%            \n Payback                                                    5 years          \n Financial Metrics                                                           \n Capital Costs                                              $1.0 B           \n Initial Capital Intensity                                  $22,530 / t      \n Operating Costs                                            $5,006 / t       \n                                                                             \n\n__________________________\n\n(1) All dollar figures are in United States dollars and are on a 100% basis\nunless otherwise indicated.\n(2) After-tax economic results.\n\nInitial Phase Development Strategy \n\nThe Scoping Study evaluates the economics of a single 45,000 tpa expansion.\n The recovery method evaluated in the Scoping Study is based on brine\npre-concentration followed by solvent extraction, and the capital costs,\noperating costs, production schedule and economic analysis presented have been\ndeveloped on that basis. The Company intends to advance Stage 2 through a\nphased development strategy designed to reduce execution risk and advance the\noverall development plan. The Initial Phase will allow for an accelerated\n10,000 tpa, leveraging existing infrastructure and permits.\n\nKey elements of the Initial Phase include:\n* Permitting: The Company is advancing the required permitting and regulatory\napprovals for the Initial Phase, including the required approvals in Argentina\nand China related to the deployment and transfer of the adsorption-based\nprocessing technology. All required permits and regulatory approvals are\ncurrently targeted to be received during the first half of 2027.\n* Equipment supply: Engineering of the modular plant has commenced in China,\nwhich will subsequently be manufactured, shipped and assembled at the\nCauchari-Olaroz site. Export of this technology from China is subject to\nChinese regulatory authorization, which has not yet been obtained. Module\nengineering is proceeding in advance of receipt of this authorization.\n* Early works: Early-stage site works, including additional brine well\ndevelopment, activities that will also support the broader Stage 2 expansion,\nare underway to support the expansion Initial Phase.\nSpecific capital expenditure requirements for the Initial Phase will be\navailable once detailed engineering is completed later this year, with the\n2027 capex budget to be finalized accordingly. The capital required for the\nInitial Phase is not expected to increase the Scoping Study's total estimated\ncapital expenditure. The phased approach also preserves flexibility to pace\nthe broader expansion in line with market conditions, while allowing the\nInitial Phase to satisfy the minimum investment requirements under RIGI.\n\nThe proposed accelerated development of the Initial Phase, including its\ncapital requirements and development schedule, is not reflected in the Scoping\nStudy or its economic analysis. \n\nStage 2 Development Strategy \n\nThe Scoping Study establishes a technically de-risked, industry-comparable\neconomic base case for the full 45ktpa expansion using SX, a proven DLE\ntechnology available for study now. The Initial Phase reflects the Company's\npreferred near-term execution path, selected for its cost and permitting\nadvantages. These activities are expected to include additional production and\nexploration drilling, brine gathering and pipeline infrastructure, industrial\nwater development and site preparation. Advancing this work alongside the\ninitial module is expected to support the subsequent development of the\nremaining Stage 2 capacity.\n\nThe remaining 35,000 tpa of Stage 2 capacity will complete the expansion to\n45,000 tpa, increasing total production capacity at Cauchari-Olaroz to\napproximately 85,000 tpa. The expansion is designed to integrate DLE capacity\nwith the existing evaporation-based process, increasing lithium recovery while\ncontinuing to utilize the established evaporation ponds and lithium carbonate\nprocessing facilities.\n\nThe ability to expand adsorption technology beyond the Initial Phase of 10,000\ntpa — for part or all of the remaining expansion — is contingent on\nfurther technical work, including demonstrating water consumption performance\non a commercial scale and/or securing additional water resources. Adsorption\nhas economic benefits, as well as a reduced footprint and water consumption\nperformance will be assessed during operation of the Initial Phase of 10,000\ntpa and is expected to help determine the applicability of adsorption\ntechnology for the balance of the expansion.\n\nThe Environmental Impact Assessment (“EIA”) application for the full\n45,000 tpa expansion has been submitted, with environmental approval currently\nanticipated during 2027.\n\nOperating Costs\n\nAverage life of project costs for the 45,000 tpa expansion are summarized\nbelow.\n\n Operating Costs – Expansion Project    ($ per tonne)  \n Category                                              \n Reagents                               $1,734         \n Power & Energy                         $472           \n Labour                                 $609           \n Maintenance                            $408           \n Salts harvesting & Disposal            $776           \n G&A                                    $213           \n Others                                 $555           \n Sub-Total                              $4,768         \n Contingency                            $238           \n Total                                  $5,006         \n                                                       \n\nCapital Costs\n\nThe capital cost for life of Stage 2 is estimated at $1.0 billion, inclusive\nof contingency, based on construction and are based on Argentine costs for\nlabor and materials. This reflects a total capital intensity of approximately\n$22,500 per tonne of annual LCE production.\n\nThe estimated capital cost benefits from leveraging existing infrastructure,\nutilities and operating facilities at Cauchari-Olaroz are summarized below:\n\n Capital Cost – Life of Project                   ($ millions)  \n Wellfield, Ponds and Brine Systems               $421          \n Processing Plants                                $356          \n Infrastructure/Power/TMA Costs                   $208          \n Owner Costs                                      $28           \n Total Capital Costs (including contingency) (3)  $1,013        \n                                                                \n\nThe Scoping Study contemplates a staged development underpinned by both\nexisting site infrastructure and new process facilities. Wellfield, ponds and\nbrine system infrastructure are largely related to the construction of these\nitems. Plants capital costs include all the capital for the lithium plant,\nincluding: DLE plant, purification plant, utilities and LCE processing\nfacilities.\n\nInfrastructure, Power/Tailing Management Area (“TMA”) and energy costs\nrelate to water supply, transformers, warehouse office buildings, camps,\neffluent plant, and waste yard infrastructure, power lines, fuel plant and\nemergency generation and salts disposal costs. \n\n__________________________\n\n(3) Initial capital costs include contingency applied by cost category.\n\nRIGI\n\nStage 2 has received approval under RIGI. The Scoping Study incorporates the\nbenefits associated with the approved RIGI framework, including enhanced\nfiscal stability, a reduced corporate income tax rate, accelerated\ndepreciation and foreign exchange benefits, strengthening the project's\nlong-term economics.\n\nStage 2 Valuation Price Sensitivities and Returns\n\nThe financial results are derived from inputs based on an annual production\nschedule included in the Scoping Study with an incremental after-tax NPV(8%)\nof $3 billion. A sensitivity analysis of long-term lithium carbonate price on\nthe economic results for the 45,000 tpa of LCE over a 40-year operating\nperiod is summarized below.\n\n Key Parameters           Scenario 1  Scenario 2 (Base Case)  Scenario 3  \n Lithium Carbonate Price  $16,000/t   $18,000/t               $20,000/t   \n After-Tax NPV (8%)       $2.5B       $3.1B                   $3.7B       \n After-Tax IRR            25.3%       28.5%                   31.4%       \n Payback (years)          ~6          ~5                      ~5          \n                                                                          \n\nMineral Resource\n\nThe January 2026 resource update supports Cauchari-Olaroz’ large-scale and\nhigh-quality lithium brine Deposit. Total M&I resources increased LCE\nestimates by 42% compared to the 2019 estimate, including a significant\nincrease in Measured resources reflecting additional drilling, incorporation\nof operating data, increased resource area and basin-wide hydrogeological\nmodeling. The improved geological and aquifer understanding strengthens\nconfidence in the resource base and supports the Stage 2 expansion.\n\nMineral Resource Estimation \n\nThe Mineral Resources for Stage 2 as described in the Scoping Study are\nsummarized in the table below.\n\n Resource Category  Cauchari-Olaroz      \n                    Li (mg/L)  LCE (Mt)  \n Measured           557        16.8      \n Indicated          571        11.3      \n Total M&I          562        28.1      \n Inferred           567        9.6       \n                                         \n\nNotes:\n1. LCE is calculated using the Li:LCE factor = 5.322785 multiplied by the mass\nof Lithium\n2. Mineral Resources are not mineral reserves and do not have demonstrated\neconomic viability. There is no certainty that all or any part of the mineral\nresource will be converted to mineral reserves.\n3. The Mineral Resource Estimate represented as LCE for Cauchari-Olaroz has an\neffective date of January 1, 2026, and it is expressed relative to the\ndelineated resource area.\n4. The qualified person for the Mineral Resource Estimate is Mark King, PhD\nPGeo., FGC, a “qualified person” as defined in National Instrument 43-101,\nwho is independent of the Company. The qualified person is not aware of any\nknown legal, political, environmental or other risks that could materially\naffect the potential development of the Mineral Resources.\n5. No cut-off values have been applied to the resource estimate.\n6. Stage 2 economics are not based on Inferred Mineral Resources.\nNext Steps\n\nThe Company intends to continue advancing Stage 2 through engineering,\npermitting and early development activities while progressing toward a future\ndevelopment decision. Key activities are expected to include:\n* Advance Early Works Strategy: Continue early development activities under\nexisting permits, including production and exploration drilling, industrial\nwater development and site preparation activities. * Continue detailed\nengineering and optimization of the Stage 2 expansion, incorporating\noperational learnings from the existing Cauchari-Olaroz operation.\n \n* Modular DLE Development: Progress project and engineering of the initial\nmodular DLE facility, expected to produce approximately 10,000 tpa LCE.\n* Environmental Permitting: Advance the EIA for the full 45,000 tpa expansion.\n* Project Financing: Advance financing activities consistent with the\nCompany's strategy to fund Stage 2 through internally generated cash flow and\nproject-level debt.\nNon-IFRS Measures\n\nOperating cash costs per tonne are non-IFRS measures or ratios and do not have\na standardized meaning under IFRS and may not be comparable to similar\nfinancial measures used by other issuers.  The Company believes that this\nmeasure provides investors with an improved ability to evaluate the prospects\nof the Company and Stage 2.  As Stage 2 is not in production, operating cash\ncost may not be reconciled to the nearest comparable measures under IFRS and\nnor an equivalent historical non-IFRS measure for Stage 2.\n\n Operating Cash Cost                        $ per tonne of LCE  \n Projected Operating Cash Cost – Stage 2    $5,006 (4)          \n                                                                \n\nScientific & Technical Information and Qualified Persons\n\nThe scientific and technical information in this news release has been\nreviewed and approved by the independent qualified persons (“QPs”) listed\nbelow, each of whom is a “qualified person” as defined in NI 43-101.\n* James Wang, P.E., Director, Golder.\n* Mark King, PhD. PGeo., FGC\n* David Burga, P. Geo\nReport Filing\n\nThe Company will file a technical report prepared in accordance with NI\n43-101with respect to the Scoping Study on SEDAR+ (http://www.sedarplus.ca and\non the Company's website (http://www.lithium-argentina.com) within 45 days of\nthis news release.\n\nFor U.S. reporting purposes, the Company intends to furnish this news release\non Form 6-K and to file a Technical Report Summary (TRS) prepared in\naccordance with Subpart 1300 of Regulation S-K. The TRS will be prepared by,\nor under the supervision of, a qualified person as defined in S-K 1300 and\nwill summarize the material scientific and technical information supporting\nthe Scoping Study.\n\n__________________________\n\n(4) Operating cost is defined as the net direct cash cost, or simply the cost\nof production including the costs of mining, processing, transportation,\nmarketing, and onsite administration.\n\nABOUT LITHIUM ARGENTINA\n\nLithium Argentina owns and actively manages significant interests in\nlarge-scale lithium assets, a key material used in the production of\nlithium-ion batteries, electric vehicles, and battery energy storage systems\n(BESS). The Company, in partnership with Ganfeng operates the Cauchari-Olaroz\nlithium brine operation in the Jujuy province of Argentina and is advancing\nPPG in the Salta province of Argentina. Lithium Argentina currently trades on\nthe TSX and on the NYSE under the ticker “LAR”.\n\nFor further information contact:\nInvestor Relations\nTelephone: +1 778-653-8092\nEmail: kelly.obrien@lithium-argentina.com\nWebsite: http://www.lithium-argentina.com\n\nFORWARD-LOOKING INFORMATION\n\nThis news release contains “forward-looking information” and\n“forward-looking statements” (which we refer to collectively as\nforward-looking information) under the provisions of applicable securities\nlegislation. Forward-looking information can be identified by the use of words\nsuch as seek”, “anticipate”, “plan”, “continue”, “estimate”,\n“expect”, “may”, “will”, “project”, “predict”,\n“propose”, “potential”, “target”, “intend”, “could”,\n“might”, “should”, “believe”, “scheduled”, “implement” and\nsimilar words or expressions. All statements, other than statements of\nhistorical fact, are forward-looking information. Forward-looking information\nin this news release include, without limitation, information with respect to\nthe following matters or the Company’s expectations relating to such\nmatters:  the timing of the filing of the technical report for the Scoping\nStudy and TRS; and the anticipated benefits therefrom; , including the\ninvolvement of third-party investors, the timing and filing of applicable\npermitting applications; the use and effects of DLE technology; the results of\nthe Scoping Study, including, without limitation, expected project life,\nproduction, capital and operating costs, IRR, NPV and other economic and\noperating parameters of Stage 2 at Cauchari; mineral resource estimates; and\nthe timing and amount of future production and expected capacity of production\nof Stage 2; anticipated costs of the Initial Phase, timing of approvals and\nauthorizations thereforand the potential benefits derived therefrom; \nexpectations with respect to funding the Stage 2 expansion; the development\nstrategy for Stage 2 and the Initial Phase; expected benefits of RIGI approval\nand possible multiple pathways to fund development and the actions outlined\nunder “Next Steps”.\n\nForward-looking information may involve known and unknown risks, assumptions\nand uncertainties which may cause the Company’s actual results or\nperformance to differ materially. This information reflects the Company’s\ncurrent views with respect to future events and is necessarily based upon a\nnumber of assumptions that, while considered reasonable by the Company today,\nare inherently subject to significant uncertainties and contingences, and\naccordingly, the Company can give no assurance that these assumptions and\nexpectations will prove to be correct. With respect to forward-looking\ninformation included in this news release, the Company has made assumptions\nregarding, among other things: current technological trends; the business\nrelationship between the Company and Ganfeng; ability to fund its operations;\nthe ability to operate in a safe and effective manner; uncertainties relating\nto obtaining and/or maintaining mining, exploration, development,\nenvironmental and other permits or approvals in Argentina; demand for lithium;\nimpact of increasing competition in the lithium business, including the\nCompany’s competitive position in the industry; general economic conditions;\nstability and support of legislative, regulatory and community environment in\nthe jurisdiction where it operates; estimates of and changes to market prices\nfor lithium and commodities; estimates costs for the project or operation;\nestimates of mineral resources and mineral reserves, including whether mineral\nresources will ever be developed into mineral reserves; reliability of\ntechnical data; and the ability to achieve full production; and accuracy of\nbudget and estimates. Forward-looking information also involves known and\nunknown risks that may cause actual results to differ materially, these risks\ninclude, among others: risk inherent to studies such as the Scoping Study,\nwhich are subject to significant assumptions and a high degree of uncertainty;\nrisk that the Company may not be able to obtain the anticipated benefits from\nthe RIGI regime as anticipated, or at all; risk that the Company may not be\nable to fund or finance the development of Stage 2 and/or the Initial Phase as\ncontemplated, or at all;  risk that the Company will not be able to implement\nDLE technology; the operations may not operate and produce as planned; cost\noverruns; market prices affecting development of the operation; risks\nassociated with co-ownership arrangements; risks with ability to successfully\nsecure adequate financing if necessary; risks to the growth of the lithium\nmarkets; lithium prices; inability to obtain any future required governmental\npermits and approvals and that operations may be limited by government-imposed\nlimitations; technology risk; inability to achieve and manage expected growth;\npolitical risk associated with foreign operations, including co-ownership\narrangements with foreign domiciled partners; emerging and developing market\nrisks; operational risks; changes in government regulations; changes in\nenvironmental requirements; failure to obtain or maintain necessary licenses,\npermits or approvals; insurance risk; receipt and security of mineral property\ntitles and mineral tenure risk; changes in project or operation parameters;\nuncertainties associated with estimating mineral resources and mineral\nreserves, including uncertainties regarding assumptions underlying such\nestimates; whether mineral resources will ever be converted into mineral\nreserves; opposition to the; geological or technical or processing problems;\nliabilities and risks; health and safety risks; unanticipated results;\nunpredictable weather; unanticipated delays; reduction in demand for lithium;\ninability to generate profitable operations; restrictive covenants in debt\ninstruments; intellectual property risks; dependency on key personnel;\ncurrency and interest rate fluctuations; and volatility in general market and\nindustry conditions. Additional risks, assumptions and other factors are set\nout in the Company’s management discussion analysis, most recent Annual\nReport on Form 20-F, and other disclosure documents copies of which are\navailable on SEDAR+ at www.sedarplus.ca\n\nAlthough the Company has attempted to identify important risks and\nassumptions, given the inherent uncertainties in such forward-looking\ninformation, there may be other factors that cause results to differ\nmaterially. Forward-looking information is made as of the date hereof and the\nCompany does not intend, and expressly disclaims any obligation to, update or\nrevise the forward-looking information contained in this news release, except\nas required by law. Accordingly, readers are cautioned not to place undue\nreliance on forward-looking information. \n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-09-30T20:05:00.845353047Z","server_sent_at_ms":1790798700845},"received_at":"2026-09-30T20:05:00.896Z","source_url":null},"analysis":{"id":"145928","press_release_id":"157252","analysis_json":{"industry":{"label":"Metals & Mining","sector":"Materials"},"redFlags":["Scoping Study economics are preliminary and subject to significant assumptions and uncertainty","Chinese export authorization for adsorption DLE technology not yet obtained","Accelerated Initial Phase capex and schedule are not reflected in the Scoping Study economics","Full 45,000 tpa environmental approval not expected until 2027","Stage 2 funding depends on internally generated cash flow and project-level debt not yet secured"],"eventType":"operations_update","narrative":"Lithium Argentina released a Scoping Study for the Cauchari-Olaroz Stage 2 expansion, outlining an additional 45,000 tpa of lithium carbonate capacity and lifting total site capacity to roughly 85,000 tpa over a 40-year life.\n\nAt an $18,000/t lithium price, the study shows an after-tax NPV(8%) of $3.1 billion, a 28.5% IRR, $1.0 billion of capital cost, and $5,006/t operating costs. The project has RIGI approval and is planned to be funded from internal cash flow and project-level debt.\n\nThe company is also accelerating a 10,000 tpa initial phase using adsorption DLE, targeted online during 2028, pending regulatory approvals in Argentina and China — including Chinese export authorization for the technology that has not yet been obtained. A NI 43-101 technical report will be filed within 45 days.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"$3.1B NPV Stage 2 expansion plus an accelerated 10ktpa DLE module — growth optionality funded from Stage 1 cash flow, but watch China tech-export permitting."},"keyFigures":{"customDimensions":{"irr":"28.5%","capital_cost":"$1.0 billion","project_life":"40 years","payback_years":5,"npv8_after_tax":"$3.1 billion","capital_intensity":"$22,530/t","expansion_capacity":"45,000 tpa LCE","initial_phase_online":"2028","initial_phase_capacity":"10,000 tpa","inferred_resource_lce_mt":9.6,"operating_cost_per_tonne":"$5,006/t","total_m_and_i_resource_lce_mt":28.1,"total_capacity_after_expansion":"85,000 tpa LCE","lithium_carbonate_price_assumption":"$18,000/t"}},"quotedText":"The Scoping Study confirms the significant value in expanding Cauchari-Olaroz, with an after-tax NPV of US$3.1 billion.","namedEntities":{"people":[{"name":"Sam Pigott","role":"CEO of Lithium Argentina"},{"name":"Mark King","role":"qualified person (Mineral Resource Estimate)"},{"name":"James Wang","role":"Director, Golder; qualified person"},{"name":"David Burga","role":"qualified person"}],"products":["Cauchari-Olaroz Stage 2 Expansion Project","adsorption Direct Lithium Extraction (DLE) technology","PPG joint venture"],"companies":[{"name":"Lithium Argentina AG","ticker":"LAR","relationship":"filer"},{"name":"Golder Associates","relationship":"technical report author"},{"name":"Ganfeng","relationship":"partner/operator of Cauchari-Olaroz"}],"dollarAmounts":[{"amount":"$3.1 billion","context":"after-tax NPV(8%) of Stage 2 expansion"},{"amount":"$1.0 billion","context":"Stage 2 initial capital cost"},{"amount":"$18,000/t","context":"lithium carbonate price assumption"},{"amount":"$5,006/t","context":"estimated operating cost per tonne of lithium carbonate"},{"amount":"$2.5B","context":"after-tax NPV at $16,000/t lithium scenario"},{"amount":"$3.7B","context":"after-tax NPV at $20,000/t lithium scenario"}]},"materialImpact":{"score":4,"reasoning":"Scoping study outlines a 45,000 tpa brownfield expansion with $3.1B after-tax NPV(8%) and 28.5% IRR, plus an accelerated 10,000 tpa initial phase targeted online in 2028 — a material positive development for the company's growth pipeline, though still pre-decision and subject to permitting."},"tickerRelevance":{"others":[],"primary":"LAR"},"globalImportance":35,"audienceRelevance":30,"eventTypeSecondary":[],"importanceComponents":{"tickerTier":"mid-cap lithium producer","eventGravity":"positive scoping study with material NPV, pre-final-investment-decision","sectorWeight":"lithium/EV supply chain interest","retailFavoriteBoost":"lithium names attract retail attention"}},"event_type":"operations_update","event_type_secondary":null,"sentiment":"bullish","material_impact_score":4,"narrative":"Lithium Argentina released a Scoping Study for the Cauchari-Olaroz Stage 2 expansion, outlining an additional 45,000 tpa of lithium carbonate capacity and lifting total site capacity to roughly 85,000 tpa over a 40-year life.\n\nAt an $18,000/t lithium price, the study shows an after-tax NPV(8%) of $3.1 billion, a 28.5% IRR, $1.0 billion of capital cost, and $5,006/t operating costs. The project has RIGI approval and is planned to be funded from internal cash flow and project-level debt.\n\nThe company is also accelerating a 10,000 tpa initial phase using adsorption DLE, targeted online during 2028, pending regulatory approvals in Argentina and China — including Chinese export authorization for the technology that has not yet been obtained. A NI 43-101 technical report will be filed within 45 days.","key_figures":{"customDimensions":{"irr":"28.5%","capital_cost":"$1.0 billion","project_life":"40 years","payback_years":5,"npv8_after_tax":"$3.1 billion","capital_intensity":"$22,530/t","expansion_capacity":"45,000 tpa LCE","initial_phase_online":"2028","initial_phase_capacity":"10,000 tpa","inferred_resource_lce_mt":9.6,"operating_cost_per_tonne":"$5,006/t","total_m_and_i_resource_lce_mt":28.1,"total_capacity_after_expansion":"85,000 tpa LCE","lithium_carbonate_price_assumption":"$18,000/t"}},"named_entities":{"people":[{"name":"Sam Pigott","role":"CEO of Lithium Argentina"},{"name":"Mark King","role":"qualified person (Mineral Resource Estimate)"},{"name":"James Wang","role":"Director, Golder; qualified person"},{"name":"David Burga","role":"qualified person"}],"products":["Cauchari-Olaroz Stage 2 Expansion Project","adsorption Direct Lithium Extraction (DLE) technology","PPG joint venture"],"companies":[{"name":"Lithium Argentina AG","ticker":"LAR","relationship":"filer"},{"name":"Golder Associates","relationship":"technical report author"},{"name":"Ganfeng","relationship":"partner/operator of Cauchari-Olaroz"}],"dollarAmounts":[{"amount":"$3.1 billion","context":"after-tax NPV(8%) of Stage 2 expansion"},{"amount":"$1.0 billion","context":"Stage 2 initial capital cost"},{"amount":"$18,000/t","context":"lithium carbonate price assumption"},{"amount":"$5,006/t","context":"estimated operating cost per tonne of lithium carbonate"},{"amount":"$2.5B","context":"after-tax NPV at $16,000/t lithium scenario"},{"amount":"$3.7B","context":"after-tax NPV at $20,000/t lithium scenario"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:727b4b9429a443af","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-09-30T20:05:14.198Z","global_importance":35,"audience_relevance":30,"importance_components":{"tickerTier":"mid-cap lithium producer","eventGravity":"positive scoping study with material NPV, pre-final-investment-decision","sectorWeight":"lithium/EV supply chain interest","retailFavoriteBoost":"lithium names attract retail attention"}},"durationMs":7604,"modelName":"glm-5.3-flashx"}}