ESG

Caucharí-Olaroz developer 'actively addressing' COVID-19 matters

Lithium Americas said joint venture company Minera Exar was "actively addressing matters" regarding COVID-19 protocols with Argentina's Jujuy province.

Staff reporter
 Construction remains suspended at the Lithium Americas/Ganfeng Caucharí-Olaroz development in Argentina

Construction remains suspended at the Lithium Americas/Ganfeng Caucharí-Olaroz development in Argentina

Construction at Minera Exar's Caucharí-Olaroz development was suspended three weeks ago after two workers tested positive for COVID-19.

Lithium Americas said it had become aware of press reports indicating Jujuy had commenced proceedings related to Minera Exar's implementation of provincial COVID-19 health and safety protocols.

"Minera Exar and the shareholders take these claims seriously and are actively addressing these matters with the province of Jujuy," Lithium Americas said yesterday.

It said Minera Exar's entire workforce had been tested and the site safely demobilised.

"While additional workers tested positive for COVID-19, the company has been advised that the majority of positive cases are asymptomatic," it said, adding about 20% had recovered and three workers were hospitalised and in a stable condition.

"The health and safety of our workers, local communities and the province of Jujuy has always been - and will continue to be - our highest priority," president and CEO Jon Evans said.

China's Ganfeng Lithium is increasing its stake in Minera Exar from 50% to 51%, under a deal which is expected to close this quarter and has earnt a nomination for the Mining Journal 2020 Best Financing/Structured Deal award.

Lithium Americas had said in May any capex increase due to COVID-19 restrictions at the US$565 lithium brine development were expected to be minimal and within contingency, as it resumed activities following a suspension in March in line with Argentina's quarantine measures.

The company also has the feasibility-stage Thacker Pass lithium project in Nevada.

Lithium Americas shares (TSX: LAC) touched a one-year high of C$8.90 yesterday.

They closed up 14.1% to $8.80 to capitalise it at $794 million (US$595 million).

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.