In Jujuy province, Cauchari-Olaroz delivered strong and consistent operating performance through 2025, achieving production at the high end of annual guidance and record quarterly production in the fourth quarter.
By Panorama Minero
2025 Operational Highlights
• Achieved high-end of 2025 production guidance. Full-year 2025 production totaled approximately 34,100 tonnes of lithium carbonate, within guidance of 30,000 – 35,000 tonnes.
• Record fourth quarter production. Fourth quarter 2025 production reached approximately 9,700 tonnes, with an average operating rate of 97% nameplate capacity.
• Cash operating costs expected to be below $6,000 per tonne. Fourth quarter 2025 cash operating costs are expected to be below $6,000 per tonne of lithium carbonate sold compared to $6,285 per tonne during the third quarter 2025, reflecting continued operational optimization and higher production volumes.
• Strong year-end financial position. In the fourth quarter, the Cauchari-Olaroz operation is expected to reduce net debt by $26 million with $15 million distributed to both Ganfeng and Lithium Argentina and over $150 million in liquidity from cash and available undrawn debt facilities.
• Stage 2 RIGI application submitted. In December, Cauchari-Olaroz submitted environmental permit and RIGI applications for a Stage 2 expansion of 45,000 tpa of lithium carbonate production capacity. In addition, the RIGI application for the Pozuelos-Pastos Grandes (“PPG”) project is being finalized and expected to be submitted during the first quarter of 2026.
“The performance achieved at Cauchari-Olaroz in 2025 represents a significant milestone, reflecting the successful establishment of Argentina’s largest lithium operation and another year of disciplined execution across the organization,” said Sam Pigott, Chief Executive Officer of Lithium Argentina. “Strong production through the fourth quarter, together with continued cost reductions, highlights the increasing operational maturity of the business and positions us well for the next stage of growth as we advance Stage 2 at Cauchari-Olaroz and progress the PPG project.”
