Lithium Americas shareholders have given the green light to split the business between the United States and Argentina

Lithium Americas Corp. announced. Its shareholders agreed to divide the company into two separate entities.

The Vancouver-based company reported that shareholders voted in favor of creating two companies: Lithium Americas (Argentina) Corp. and the new Lithium Americas Corp.

The Lithium Argentina team will continue to develop the Cauchari-Oloroz project, while the Lithium Americas team will focus on the Thacker Pass project, President and CEO Jonathan Evans said.

The separation is scheduled to become effective in October, subject to regulatory approvals and closing conditions.

In January, General Motors signed an agreement to invest US$650 million in the company, allowing it to access production from the Thacker Pass project in Nevada.

The value of the first tranche of the agreement amounted to 320 million US dollars, granting a 98.85% stake in the company, while the second part of the investment will focus on the company’s business in the United States, once the separation of its operations in the United States and America is completed. Argentina.

You may be interested: What countries is Argentine lithium sold in?