Emerging Lithium Producers Nearing Production In 2013
Currently, Lithium Americas is working toward securing project financing and offtake agreements in order to commence construction this year. Mitsubishi (TSE:8058) and Magna International (NYSE:MGA) account for about 17 percent of outstanding shares in the company and have offtake arrangements for the option to purchase up to 37.5 percent of the project's lithium production — contingent on financing up to 37.5 percent of capital costs. If all goes well, Lithium Americas plans to bring the brine mine — believed to be the world's third-largest lithium brine resource — into production by 2015, with an annual production rate of 20,000 MT.
Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company or commodity mentioned in this article.
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