# Lithium Argentina and Ganfeng Announce PPG Scoping Study Results and Stage 1 Environmental Approval Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--eb65656d-01a9-4db0-b1fe-2f55e87b9c46 Original source: https://money.tmx.com/en/quote/LAR/news/4906146863401442/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env Publisher: tmx Original announcement: 2025-11-10T11:30:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - Company: Lithium Argentina - Ticker: LAR - Exchange: TSX - Region: Salta Province, Argentina - Primary commodity: Lithium - Secondary commodities: None reported - Document categories: Resource update, Economic study, Permitting - Extracted: 2026-09-18 07:03:51 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Lithium Argentina and Ganfeng have announced positive Scoping Study results for the Pozuelos-Pastos Grandes \(PPG\) lithium brine project in Salta Province, Argentina. The study outlines a 150,000 tpa LCE project with an after-tax NPV8% of $8.1 billion and an IRR of 32.7% at a lithium carbonate price of $18,000/t. The project also boasts a globally significant 15.1 Mt LCE Measured and Indicated resource and has received environmental approval for its 50,000 tpa LCE Stage 1 development. Reasoning: Lithium Argentina announced compelling Scoping Study results for its PPG lithium brine project, featuring robust economics \(NPV $8.1B, IRR 32.7%\), a large 15.1 Mt LCE Measured and Indicated resource, and environmental approval for Stage 1. The project benefits from a low-cost profile and a strategic partnership, positioning it as a significant future lithium producer, despite the early-stage nature of the study. - Positive factor: Strong economics with high NPV and IRR for the PPG Project. - Positive factor: Globally significant measured and indicated lithium resource. - Positive factor: Environmental approval received for Stage 1, de-risking initial development. - Positive factor: Low operating and all-in sustaining costs projected. - Positive factor: Strategic partnership with Ganfeng and potential RIGI benefits. - Negative factor: Scoping Study level of engineering, implying higher uncertainty in cost estimates. - Negative factor: Resource estimate does not apply a cut-off value, which can affect economic viability assessment. - Negative factor: IRR basis \(real/nominal, levered/unlevered\) not explicitly disclosed, limiting comparability. Low confidence — this extraction should be reviewed alongside the original source. Facts used in scoring: 14 ## Classification and evidence No classification tags are available. ## Extracted facts Stored fact records: 7. Some facts used in scoring do not have a stored record. ## Resource Estimates (7) ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--eb65656d-01a9-4db0-b1fe-2f55e87b9c46#fact-resource-facts-6) PPG Project · lithium #### Identity - Project: PPG Project - Commodity: lithium - Region: argentina - Reported Region: Salta Province, Argentina - Ticker: LAR #### Resource scope - Estimate type: resource - Effective date: 2024-12-20T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: James Wang, P.E. - Resource group id: resource:bf1f84debbc34ca06c2f - Mining method: other #### Resource Data - Category: measured - Tonnes: 5836244 - Grade: 491 - Grade Unit: mg/L - Contained Metal: 5836244 - Contained Unit: tonnes lce #### Prior Estimate - Resource Date: 2024-12-20 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-10T00:00:00.000Z Reasoning: The measured resource for Pozuelos Salar is substantial and represents a high-confidence estimate, contributing significantly to the overall project scale. The lack of a cut-off grade is a minor concern for economic evaluation. - Positive factor: Significant measured resource tonnage for Pozuelos Salar. - Positive factor: High confidence category, indicating well-established geological understanding. - Negative factor: No cut-off grade applied to the resource estimate, which can affect economic assessment. Evidence · table > 5,836,244 Context: Measured #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### measured [Link to this fact](https://atlas-extractions.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--eb65656d-01a9-4db0-b1fe-2f55e87b9c46#fact-resource-facts-7) PPG Project · lithium #### Identity - Project: PPG Project - Commodity: lithium - Region: argentina - Reported Region: Salta Province, Argentina - Ticker: LAR #### Resource scope - Estimate type: resource - Effective date: 2024-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: James Wang, P.E. - Resource group id: resource:1d38617c2986a06078b0 - Mining method: other #### Resource Data - Category: measured - Tonnes: 7406000 - Grade: 451 - Grade Unit: mg/L - Contained Metal: 7406000 - Contained Unit: tonnes lce #### Prior Estimate - Resource Date: 2024-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-10T00:00:00.000Z Reasoning: The measured resource for Pastos Grandes Salar is substantial and represents a high-confidence estimate, contributing significantly to the overall project scale. The lack of a cut-off grade is a minor concern for economic evaluation. - Positive factor: Significant measured resource tonnage for Pastos Grandes Salar. - Positive factor: High confidence category, indicating well-established geological understanding. - Negative factor: No cut-off grade applied to the resource estimate, which can affect economic assessment. Evidence · table > 7,406,000 Context: Measured #### Tags used in scoring **Measured Resource** Polarity: positive Definition: Highest confidence category — tonnage, grade, shape well-established from closely-spaced drilling. Basis for Proven Reserves. Why it applies: category is "measured" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--eb65656d-01a9-4db0-b1fe-2f55e87b9c46#fact-resource-facts-8) PPG Project · lithium #### Identity - Project: PPG Project - Commodity: lithium - Region: argentina - Reported Region: Salta Province, Argentina - Ticker: LAR #### Resource scope - Estimate type: resource - Effective date: 2024-12-20T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: James Wang, P.E. - Resource group id: resource:cf4eb5e0c2bc79f73c75 - Mining method: other #### Resource Data - Category: indicated - Tonnes: 1180383 - Grade: 529 - Grade Unit: mg/L - Contained Metal: 1180383 - Contained Unit: tonnes lce #### Prior Estimate - Resource Date: 2024-12-20 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-10T00:00:00.000Z Reasoning: The indicated resource for Pozuelos Salar provides additional tonnage with reasonable geological confidence, supporting future economic studies. The absence of a cut-off grade is a minor limitation. - Positive factor: Adds to the overall resource base with reasonable geological confidence. - Negative factor: No cut-off grade applied to the resource estimate, which can affect economic assessment. Evidence · table > 1,180,383 Context: Indicated #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--eb65656d-01a9-4db0-b1fe-2f55e87b9c46#fact-resource-facts-9) PPG Project · lithium #### Identity - Project: PPG Project - Commodity: lithium - Region: argentina - Reported Region: Salta Province, Argentina - Ticker: LAR #### Resource scope - Estimate type: resource - Effective date: 2024-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: James Wang, P.E. - Resource group id: resource:60761f0c76b8897ca509 - Mining method: other #### Resource Data - Category: indicated - Tonnes: 654000 - Grade: 78 - Grade Unit: mg/L - Contained Metal: 654000 - Contained Unit: tonnes lce #### Prior Estimate - Resource Date: 2024-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-10T00:00:00.000Z Reasoning: The indicated resource for Pastos Grandes Salar contributes to the overall resource, but its lower grade compared to other categories warrants closer scrutiny. The absence of a cut-off grade is a minor limitation. - Positive factor: Adds to the overall resource base with reasonable geological confidence. - Negative factor: Lower grade compared to other resource categories. - Negative factor: No cut-off grade applied to the resource estimate, which can affect economic assessment. Evidence · table > 654,000 Context: Indicated #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--eb65656d-01a9-4db0-b1fe-2f55e87b9c46#fact-resource-facts-10) PPG Project · lithium #### Identity - Project: PPG Project - Commodity: lithium - Region: argentina - Reported Region: Salta Province, Argentina - Ticker: LAR #### Resource scope - Estimate type: resource - Effective date: 2024-12-20T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: James Wang, P.E. - Resource group id: resource:37afadf9bb79d1fe67eb - Mining method: other #### Resource Data - Category: inferred - Tonnes: 3920437 - Grade: 581 - Grade Unit: mg/L - Contained Metal: 3920437 - Contained Unit: tonnes lce #### Prior Estimate - Resource Date: 2024-12-20 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-10T00:00:00.000Z Reasoning: The inferred resource for Pozuelos Salar represents substantial exploration upside, but its lower confidence category means it requires further drilling to be upgraded before it can be included in definitive economic studies. - Positive factor: Adds significant potential tonnage for future conversion to higher confidence categories. - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone. - Negative factor: No cut-off grade applied to the resource estimate. Evidence · table > 3,920,437 Context: Inferred #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### inferred [Link to this fact](https://atlas-extractions.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--eb65656d-01a9-4db0-b1fe-2f55e87b9c46#fact-resource-facts-11) PPG Project · lithium #### Identity - Project: PPG Project - Commodity: lithium - Region: argentina - Reported Region: Salta Province, Argentina - Ticker: LAR #### Resource scope - Estimate type: resource - Effective date: 2024-08-15T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: James Wang, P.E. - Resource group id: resource:4333616a411aa6bb2c30 - Mining method: other #### Resource Data - Category: inferred - Tonnes: 2793000 - Grade: 456 - Grade Unit: mg/L - Contained Metal: 2793000 - Contained Unit: tonnes lce #### Prior Estimate - Resource Date: 2024-08-15 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-10T00:00:00.000Z Reasoning: The inferred resource for Pastos Grandes Salar represents substantial exploration upside, but its lower confidence category means it requires further drilling to be upgraded before it can be included in definitive economic studies. - Positive factor: Adds significant potential tonnage for future conversion to higher confidence categories. - Negative factor: Inferred category has lower geological confidence and cannot support economic studies alone. - Negative factor: No cut-off grade applied to the resource estimate. Evidence · table > 2,793,000 Context: Inferred #### Tags used in scoring **Inferred Resource** Polarity: negative Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone. Why it applies: category is "inferred" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ### indicated [Link to this fact](https://atlas-extractions.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--eb65656d-01a9-4db0-b1fe-2f55e87b9c46#fact-resource-facts-12) PPG Project · lithium #### Identity - Project: PPG Project - Commodity: lithium - Region: argentina - Reported Region: Salta Province, Argentina - Ticker: LAR #### Resource scope - Estimate type: resource - Effective date: 2024-12-20T00:00:00.000Z - Reporting standards: ni\_43\_101, sec\_sk1300 - QP Signed: Yes - Qualified person names: James Wang, P.E. - Resource group id: resource:49d994956cce851d3985 - Mining method: other #### Resource Data - Category: indicated - Tonnes: 15100000 - Contained Metal: 15100000 - Contained Unit: tonnes lce #### Prior Estimate - Resource Date: 2024-12-20 #### Review - Needs Review: No - Historical: No #### Dates - Event date: 2025-11-10T00:00:00.000Z Reasoning: The combined Measured and Indicated resource of 15.1 Mt LCE positions PPG as a globally significant lithium project, providing a robust foundation for future development and economic studies. - Positive factor: Globally significant measured and indicated resource tonnage. - Positive factor: High confidence categories, providing a strong basis for economic studies. - Negative factor: No cut-off grade applied to the resource estimate, which can affect economic assessment. Evidence · text > 15.1 Mt LCE measured and indicated resource across consolidated basins #### Tags used in scoring **Indicated Resource** Polarity: positive Definition: Reasonable geological confidence based on adequate drilling; continuity can be assumed. Basis for Probable Reserves. Why it applies: category is "indicated" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **QP/CP Signed** Polarity: positive Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience. Why it applies: qp\_signed is true **NI 43-101 Compliant** Polarity: positive Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard. Why it applies: reporting\_standards includes ni\_43\_101 **PEA-Supporting** Polarity: neutral Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study. Why it applies: the release names the study this estimate supports ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.