Ganfeng Lithium (HKG:1772, SHE:002460) partnered with Lithium Argentina to develop the Pozuelos-Pastos Grandes salt lake basin located in Argentina, according to a Shenzhen Stock Exchange filing on Saturday.
The basin's three brine lakes, PPG, PG and SDLP lithium brine lakes, will be integrated into one project, with a phased development plan to be formulated.
The project plans to adopt the direct lithium extraction technology, eventually producing 150,000 tons of lithium carbonate equivalent every year. The salt lake is expected to produce lithium chloride or lithium carbonate, depending on customer preference and cost optimization.
A letter of intent is signed by both parties for the project, the filing said.
The company's Hong Kong shares jumped 5% and Shenzhen shares rose less than 2% in recent trade.
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