Lithium Americas receives final decree, approving the development of its Cauchari-Olaroz Lithium project
Thursday, Dec 13, 2012
Lithium Americas Corp. (TSX:LAC)(OTCQX:LHMAF) ("Lithium Americas" or the "Company") is pleased to announce that it has received final project approval for the construction of its Cauchari-Olaroz lithium/potash project.
Upon the recommendation of the Committee of Experts, the Jujuy Government has executed the final decree, through the joint resolution of the Production Minister and Secretary to the Government, which approved the development of Lithium Americas' Cauchari-Olaroz project. Such approval includes water use permitting, confirmation of mining licences in good standing, environmental approval for lithium and potash production, and all other permits required to start project construction.
"Lithium Americas is very proud of advancing the Cauchari-Olaroz project from discovery and exploration, through development, to fully permitted in just short of 4 years," stated Dr. Waldo Perez, President and CEO of Lithium Americas. "We continue to receive an enormous level of support from multiple constituencies in Argentina. We have worked extremely hard to garner this support, which has served to accelerate the permitting and development of Cauchari-Olaroz, as well as further de-risk the project. With the permitting process concluded, our next milestone is securing project financing and off take agreements, which will allow us to initiate project construction in 2013."