Recent Updates — LAR
Lithium Argentina AG announced the repurchase of $200 million aggregate principal amount of its convertible senior notes due January 2027 through privately negotiated transactions with qualified institutional buyers. The company paid approximately $198 million in cash, plus accrued interest, funding the transaction primarily from cash on hand and proceeds from a $180 million strategic investment by Ganfeng Lithium Group that closed in September 2026. Following this repurchase, only about $59 million of the notes remains outstanding, with the company intending to repay the balance at or before maturity using existing liquidity. This action is part of the company's strategy to deleverage and strengthen its balance sheet, leaving it with no other corporate-level debt maturing until 2032. Lithium Argentina jointly owns and manages lithium brine operations in Argentina and develops new projects to supply materials for electric vehicle batteries.
Lithium Argentina AG closed a $180 million strategic investment from Ganfeng Lithium Group Co., Ltd. on September 15, 2026, through the issuance of a six-year unsecured convertible note bearing a 4.0% coupon and convertible into common shares at US$12.50 per share. Net proceeds will be used to repay in full the Company's $259 million convertible notes due January 2027. Ganfeng currently owns approximately 9.6% of the Company's issued and outstanding common shares; assuming full conversion, it would hold approximately 16.1%. The Company's joint venture with Ganfeng regarding the Pozuelos-Pastos Grandes project remains on track for completion by the end of September 2026. Lithium Argentina AG operates in the lithium mining industry, developing projects such as Pozuelos-Pastos Grandes.
Lithium Argentina AG finalized a joint venture with Ganfeng Lithium Group Co., Ltd. (Ganfeng) consolidating the Pozuelos-Pastos Grandes projects in Salta Province, Argentina. Ganfeng holds a 67% interest and acts as operator, while Lithium Argentina retains 33%. Concurrently, Ganfeng agreed to invest $180 million via a six-year unsecured convertible note bearing a 4.0% coupon, convertible at $12.50 per share. Proceeds will fully repay the company's $259 million convertible debt due January 2027 and terminate a $130 million facility. The transactions are expected to close in September 2026. Lithium Argentina AG produces lithium carbonate for use primarily in lithium-ion batteries and electric vehicles.
Lithium Argentina AG filed its unaudited condensed consolidated interim financial statements and management’s discussion and analysis for the three and six months ended June 30, 2026. The company reported total assets of $1,152.5 million and cash and cash equivalents of $99.7 million as of June 30, 2026. For the first half of 2026, Lithium Argentina recorded a net income of $8.8 million, driven by a $34.3 million share of income from its Cauchari-Olaroz project. The company holds a Swiss-domiciled resource company focused on lithium brine projects in Argentina.