# Lithium Argentina and Ganfeng Announce PPG Scoping Study Results and Stage 1 Environmental Approval

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2

Original source: https://money.tmx.com/en/quote/LAR/news/4906146863401442/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env

Publisher: tmx

Original announcement: 2025-11-10T11:30:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Lithium Argentina

- Ticker: LAR

- Exchange: TSX

- Region: Salta Province, Argentina

- Primary commodity: Lithium

- Secondary commodities: None reported

- Document categories: Resource update, Other, Permitting

- Extracted: 2026-08-25 18:59:56 UTC

Narrative sentiment: 0.90 · Bullish

## Minestarters Atlas summary

Lithium Argentina and Ganfeng announced positive Scoping Study results for their Pozuelos-Pastos Grandes \(PPG\) lithium brine project in Salta Province, Argentina, outlining a 150,000 tpa LCE production capacity over 30 years. The study reports an after-tax NPV8% of $8.1 billion and an IRR of 33% at $18,000/t lithium carbonate, with an initial Stage 1 capital cost of $1.1 billion. The companies also secured Stage 1 environmental approval, highlighting the project's advancement and strong economic potential.

Reasoning: The Scoping Study outlines robust economics for a large-scale lithium project, supported by a significant consolidated resource and initial environmental approval, de-risking the project's early stages and demonstrating strong potential.

- Positive factor: Strong economics \(NPV, IRR\)

- Positive factor: Large measured and indicated resource

- Positive factor: Low operating costs

- Positive factor: Stage 1 environmental approval received

- Positive factor: Proven partnership with Ganfeng

- Positive factor: Scalable production capacity

- Negative factor: Scoping Study level \(inherent uncertainty\)

- Negative factor: Significant capital costs

- Negative factor: Cut-off values not applied to resource estimate

Facts used in scoring: 18

## Classification and evidence

**Maiden Resource**

Polarity: neutral

Definition: First formal MRE for the project — establishes baseline but typically exploration-stage with high Inferred component.

Why it applies: The document describes a consolidated resource estimate for the PPG Project, integrating previously distinct projects, indicating a new, formal resource estimate for the combined entity.

Evidence · text

> Globally significant resource: 15.1 Mt LCE measured and indicated resource across consolidated basins, placing PPG among one of the largest undeveloped lithium brine resources.

**NI 43-101 Compliant**

Polarity: positive

Definition: Resource estimate prepared in compliance with NI 43-101 \(Canada\) — high reporting standard.

Why it applies: The Scoping Study and mineral resource estimation were prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects.

Evidence · text

> A technical report, prepared by Golder Associates \(“ Golder ”\), in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects \(“ NI 43-101 ”\)

**QP/CP Signed**

Polarity: positive

Definition: Qualified Person \(QP\) or Competent Person \(CP\) named and signed off — a member of a recognized professional association \(e.g., AusIMM, SME, AIG, P.Geo\) with relevant experience.

Why it applies: James Wang, P.E., Director, Golder, is named as a 'qualified person' as defined in NI 43-101 and is independent of the company.

Evidence · text

> The qualified person for the Mineral Resource Estimate is James Wang, P.E., Director, Golder, a “qualified person” as defined in National Instrument 43-101, who is independent of the Company.

**Cut-off Undisclosed**

Polarity: negative

Definition: High-grade interval reported without stating the cut-off grade used for compositing.

Why it applies: The document explicitly states that no cut-off values have been applied to the resource estimate.

Evidence · text

> No cut-off values have been applied to the resource estimate.

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The resource estimate includes a significant Inferred category of 6,713,437 tonnes LCE.

Evidence · table

> Inferred

Context: Inferred

**PEA-Supporting**

Polarity: neutral

Definition: Resource estimate prepared to support a Preliminary Economic Assessment — early-stage study.

Why it applies: The document is a Scoping Study, which is equivalent to a Preliminary Economic Assessment \(PEA\) and supports early-stage economic evaluation.

Evidence · text

> results of the Scoping Study \(“ Scoping Study” \) for the Pozuelos-Pastos Grandes lithium brine project

**Permit Granted**

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The Secretariat of Mining and Energy of Salta Province has issued the Environmental Impact Statement \(DIA\) for Stage 1 of the PPG Project.

Evidence · text

> DIA approval Stage 1 received

**Low Operating Cost**

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The Scoping Study reports a low operating cash cost of $5,027/t LCE and an AISC of $5,351/t over the project life.

Evidence · text

> Operating cash cost 2 of $5,027/t with an all-in sustaining cost \(“ AISC ”\) 3 of $5,351/t over project life.

**High NPV/IRR**

Polarity: positive

Story-specific tag

Definition: No canonical definition is currently available.

Why it applies: The project demonstrates compelling economics with an after-tax NPV 8% of $8.1 billion and an IRR of 33% at $18,000/t lithium carbonate.

Evidence · text

> At $18,000/t lithium carbonate, after-tax NPV 8% of $8.1 billion and IRR of 33%

## Extracted facts

Stored fact records: 18. Some facts used in scoring do not have a stored record.

## Resource Estimates (18)

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-0)

PPG Project · lithium

#### Identity

- Project: PPG Project
- Commodity: lithium
- Ticker: LAR

#### Resource Data

- Category: measured
- Tonnes: 13242244
- Grade: 491
- Grade Unit: mg/L

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: Measured resource for Pozuelos Salar, part of the consolidated PPG Project, provides high confidence in a significant portion of the resource, although no cut-off was applied.

- Positive factor: High confidence resource category

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Negative factor: No cut-off values applied

Evidence · table

> 491

Context: Measured

### measured

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-1)

PPG Project · lithium

#### Identity

- Project: PPG Project
- Commodity: lithium
- Ticker: LAR

#### Resource Data

- Category: measured
- Tonnes: 13242244
- Grade: 451
- Grade Unit: mg/L

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: Measured resource for Pastos Grandes Salar, part of the consolidated PPG Project, provides high confidence in a significant portion of the resource, although no cut-off was applied.

- Positive factor: High confidence resource category

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Negative factor: No cut-off values applied

Evidence · table

> 451

Context: Measured

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-2)

PPG Project · lithium

#### Identity

- Project: PPG Project
- Commodity: lithium
- Ticker: LAR

#### Resource Data

- Category: indicated
- Tonnes: 1834383
- Grade: 529
- Grade Unit: mg/L

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: Indicated resource for Pozuelos Salar, part of the consolidated PPG Project, adds to the overall resource confidence, though no cut-off was applied.

- Positive factor: Good confidence resource category

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Negative factor: No cut-off values applied

Evidence · table

> 529

Context: Indicated

### indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-3)

PPG Project · lithium

#### Identity

- Project: PPG Project
- Commodity: lithium
- Ticker: LAR

#### Resource Data

- Category: indicated
- Tonnes: 1834383
- Grade: 78
- Grade Unit: mg/L

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: Indicated resource for Pastos Grandes Salar, part of the consolidated PPG Project, adds to the overall resource confidence, though no cut-off was applied.

- Positive factor: Good confidence resource category

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Negative factor: No cut-off values applied

Evidence · table

> 78

Context: Indicated

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-4)

PPG Project · lithium

#### Identity

- Project: PPG Project
- Commodity: lithium
- Ticker: LAR

#### Resource Data

- Category: inferred
- Tonnes: 6713437
- Grade: 581
- Grade Unit: mg/L

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: Inferred resource for Pozuelos Salar, part of the consolidated PPG Project, provides exploration upside but has lower geological confidence and no cut-off was applied.

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Negative factor: Inferred resource category

- Negative factor: No cut-off values applied

Evidence · table

> 581

Context: Inferred

### inferred

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-5)

PPG Project · lithium

#### Identity

- Project: PPG Project
- Commodity: lithium
- Ticker: LAR

#### Resource Data

- Category: inferred
- Tonnes: 6713437
- Grade: 456
- Grade Unit: mg/L

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: Inferred resource for Pastos Grandes Salar, part of the consolidated PPG Project, provides exploration upside but has lower geological confidence and no cut-off was applied.

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Negative factor: Inferred resource category

- Negative factor: No cut-off values applied

Evidence · table

> 456

Context: Inferred

### measured and indicated

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-6)

PPG Project · lithium

#### Identity

- Project: PPG Project
- Commodity: lithium
- Ticker: LAR

#### Resource Data

- Category: measured and indicated
- Tonnes: 15100000
- Grade Unit: tonnes LCE

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: The consolidated PPG Project boasts a globally significant Measured and Indicated resource of 15.1 Mt LCE, providing a strong foundation for development, despite the lack of a stated cut-off.

- Positive factor: Globally significant resource

- Positive factor: High confidence resource categories

- Positive factor: NI 43-101 compliant

- Positive factor: QP signed off

- Negative factor: No cut-off values applied

Evidence · text

> 15.1 Mt LCE measured and indicated resource across consolidated basins

### Fact 8

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-7)

PPG Project

#### Identity

- Project: PPG Project
- Ticker: LAR

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: The Scoping Study indicates compelling economics for the PPG Project with a high NPV and IRR, and a quick payback period, supporting project viability.

- Positive factor: High NPV

- Positive factor: Strong IRR

- Positive factor: Rapid payback period

- Negative factor: Scoping Study level

Evidence · table

> $8.1 B

Context: NPV 8%

### Fact 9

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-8)

PPG Project

#### Identity

- Project: PPG Project
- Ticker: LAR

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: The Scoping Study shows a robust NPV10% for the PPG Project, indicating strong economic potential even at a higher discount rate.

- Positive factor: Strong NPV

- Negative factor: Scoping Study level

Evidence · table

> $5.8 B

Context: NPV 10%

### Fact 10

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-9)

PPG Project

#### Identity

- Project: PPG Project
- Ticker: LAR

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: The total capital cost of $3.3 billion for the life of the project is substantial, reflecting the large scale of the proposed operation at Scoping Study level.

- Negative factor: Significant capital expenditure

- Negative factor: Scoping Study level

Evidence · table

> $3.3 B

Context: Capital Costs

### Fact 11

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-10)

PPG Project

#### Identity

- Project: PPG Project
- Ticker: LAR

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: The initial capital cost for Stage 1 at $1.1 billion is a significant but manageable investment to kickstart the project, as outlined in the Scoping Study.

- Positive factor: Manageable initial capital cost for Stage 1

- Negative factor: Scoping Study level

Evidence · table

> $1.1 B

Context: Capital Costs – Stage 1

### Fact 12

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-11)

PPG Project · lithium

#### Identity

- Project: PPG Project
- Commodity: lithium
- Ticker: LAR

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: The projected operating cash cost of $5,027/t LCE over the project life indicates a low-cost profile, enhancing the project's economic attractiveness.

- Positive factor: Low operating cost profile

- Negative factor: Scoping Study level

Evidence · table

> $5,027 / t

Context: Operating Costs

### Fact 13

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-12)

PPG Project · lithium

#### Identity

- Project: PPG Project
- Commodity: lithium
- Ticker: LAR

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: The sustaining capital expenditure of $324/t LCE is a manageable ongoing cost, contributing to the project's overall economic viability.

- Positive factor: Reasonable sustaining capital expenditure

- Negative factor: Scoping Study level

Evidence · table

> $324 / t

Context: Sustaining Capex

### Fact 14

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-13)

PPG Project · lithium

#### Identity

- Project: PPG Project
- Commodity: lithium
- Ticker: LAR

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: The low all-in sustaining cost of $5,351/t LCE further underscores the project's strong economic potential and competitive cost structure.

- Positive factor: Low all-in sustaining cost

- Negative factor: Scoping Study level

Evidence · text

> all-in sustaining cost \(“ AISC ”\) 3 of $5,351/t over project life

### Fact 15

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-14)

PPG Project · lithium

#### Identity

- Project: PPG Project
- Commodity: lithium
- Ticker: LAR

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: The projected annual production capacity of 150,000 tpa LCE positions PPG as a major global lithium producer, with a scalable development plan.

- Positive factor: Large production capacity

- Positive factor: Scalable development plan

- Negative factor: Scoping Study level

Evidence · table

> 150,000 tpa LCE

Context: Annual Production

### Fact 16

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-15)

PPG Project · lithium

#### Identity

- Project: PPG Project
- Commodity: lithium
- Ticker: LAR

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: Stage 1 production of 50,000 tpa LCE provides a substantial initial output, demonstrating the project's phased development approach.

- Positive factor: Significant initial production capacity

- Negative factor: Scoping Study level

Evidence · table

> 50,000 tpa LCE

Context: Annual Production – Stage 1

### Fact 17

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-16)

PPG Project

#### Identity

- Project: PPG Project
- Ticker: LAR

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: A 30-year project life indicates long-term operational potential and resource longevity for the PPG Project.

- Positive factor: Long project life

- Negative factor: Scoping Study level

Evidence · table

> 30 years

Context: Project life

### Fact 18

[Link to this fact](https://atlas-staging.minestarters.com/news/lithium-argentina-and-ganfeng-announce-ppg-scoping-study-results-and-stage-1-env--5ae326bc-65b3-427b-9dae-ec8f499249e2#fact-resource-facts-17)

PPG Project

#### Identity

- Project: PPG Project
- Ticker: LAR

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-11-10T00:00:00.000Z

Reasoning: The environmental approval for Stage 1 is a critical milestone, de-risking the initial development phase and demonstrating regulatory support for the project.

- Positive factor: Key environmental permit received

- Positive factor: De-risks initial development

- Negative factor: Only Stage 1 approved

Evidence · text

> the Secretariat of Mining and Energy of the Province of Salta, Argentina, has issued the Environmental Impact Statement, Declaración de Impacto Ambiental, \( “DIA ”\) for Stage 1 of the PPG Project.

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.