Lithium Argentina Reports Strong 2025 Performance and Outlines Growth Strategy
ZUG, Switzerland – March 23, 2026 – Lithium Argentina AG (TSX: LAR) (NYSE: LAR) today announced its fourth quarter and full year 2025 results, highlighting a year of significant operational and financial progress. The company’s Cauchari-Olaroz lithium brine operation demonstrated strong performance, generating substantial cash flow and positioning Lithium Argentina for continued growth in 2026.
Key Highlights from 2025
- Lithium Production: Approximately 34,100 tonnes of lithium carbonate were produced in 2025, achieving the high end of the company’s 30,000 – 35,000 tonne guidance range. This represents a 34% increase compared to 2024 production levels.1
- Cash Flow: Cauchari-Olaroz distributed over $85 million in cash during the year, with Lithium Argentina receiving $42 million as its proportionate share.1
- Debt Financing: The company secured a $130 million six-year debt facility at SOFR plus 2.5%, strengthening its balance sheet and providing financial flexibility.1
- Operating Costs: Cash operating costs were $5,618 per tonne of lithium carbonate sold in the fourth quarter of 2025, reflecting structural improvements and operational efficiencies.1
- Pricing: The average realized price for lithium carbonate in the fourth quarter of 2025 was approximately $9,049 per tonne. The company anticipates a significant increase to approximately $17,000 per tonne in the first quarter of 2026.2
Financial Performance
For the year ended December 31, 2025, Lithium Argentina reported a net loss of $76.8 million, compared to a net loss of $15.2 million in 2024. This was largely driven by losses from the Cauchari-Olaroz Project and non-cash foreign exchange fluctuations.1 Adjusted EBITDA for the year was $56 million.1 As of December 31, 2025, the company held $61.1 million in cash and cash equivalents.1
Strategic Focus for 2026
Lithium Argentina is prioritizing growth initiatives centered around its Cauchari-Olaroz operation and the development of two key projects: PPG (Pozuelos-Pastos Grandes) and Stage 2 expansion at Cauchari-Olaroz.
- Cauchari-Olaroz Stage 2 Expansion: The company is advancing a plan to increase production capacity by 45,000 tonnes per annum of lithium carbonate equivalent (LCE). Applications for the expansion have been filed under Argentina’s Incentive Regime for Large Investments (RIGI).1
- PPG Project: Development continues at the PPG project, with a RIGI application submitted in February 2026. A comprehensive Scoping Study indicated an after-tax NPV8% of $8.1 billion and an IRR of 33% at a lithium carbonate price of $18,000 per tonne.1
Looking Ahead
Sam Pigott, CEO of Lithium Argentina, stated that 2025 was an exceptional year for the company and expressed confidence in its ability to advance its growth plans and create shareholder value, supported by increasing demand for energy storage.1 The company’s 2026 production guidance is set at 35,000 to 40,000 tonnes of lithium carbonate.
Lithium Argentina is also considering a secondary listing on either the Australian Securities Exchange (ASX) or the Hong Kong Stock Exchange (HKEX) to broaden access to Asia-Pacific investors while maintaining its NYSE listing.1
Worth a look