Proyecto Pastos Grandes, Sociedad Anonima announced that it will receive $70 million in funding on March 5, 2024. The company issue common shares in the transaction. The transaction will include participation from new investor Ganfeng Lithium Group Co., Ltd. for 14.8% stake in the company.

The transaction still needs to be approved by relevant government departments, and there is a risk that it will not be approved. The company held 74th meeting of the fifth board of directors reviewed and approved the about the Subscription of additional shares of Argentina PGCO company Involving Mining Industry Proposal on Equity Investment and Related Transactions. The transaction is expected to completed by the end of 2024.

The deal awaits regulatory approvals and is expected to be finalized in the second quarter of 2024.