Lithium Royalty Corp Congratulates Zijin Mining on Commencement of Production at Tres Quebradas
TORONTO–(BUSINESS WIRE)–Lithium Royalty Corp. (TSX: LIRC) (“LRC”) is pleased to congratulate Zijin Mining Group Co., Ltd. (“Zijin”) on the start of production at the Tres Quebradas lithium project (“3Q” or the “Project”), located in Catamarca Province, Argentina. The milestone marks Catamarca’s third lithium mine to enter production and underscores Argentina’s growing role in the global battery supply chain.
Ernie Ortiz, President and CEO of LRC, said:
Lithium Royalty Corp. extends its congratulations to the entire Zijin team on achieving this important milestone.
“Zijin acquired the Tres Quebradas project in February 2022 and has now successfully brought the brine asset into operation, demonstrating the speed, dedication, and commitment of the Zijin team in advancing this low-cost, long-life project. Earlier this year, the LRC team visited the Tres Quebradas facilities in Argentina as well as Zijin’s main offices in Fujian Province, China, where the Zijin team underscored the strategic importance of Tres Quebradas within its lithium portfolio and its standing as one of the world’s leading brine assets.This milestone is not only significant for Zijin but also for LRC. We anticipate further key developments across our royalty portfolio over the coming quarters, which will underpin LRC’s attractive organic growth profile for years to come.”
The Tres Quebradas lithium project is located in Catamarca, Argentina, and was acquired by Zijin in February 2022 for approximately C$960 million. Since then, Zijin has invested more than US$600 million in capital expenditures to develop and fast-track the asset into production. Phase 1 contemplates 20,000 tonnes per annum (tpa) of lithium carbonate equivalent (LCE) production.
In its 2024 Annual Report, Zijin reported an updated mineral resource at the Tres Quebradas salar, underscoring the long-life potential of the asset. Zijin has disclosed that its planned Phase 2 expansion is expected to add 40,000 tpa of LCE, bringing total annual production capacity for the Project to an estimated 60,000 – 80,000 tpa once both phases are fully operational1.
LRC holds a net 0.9% gross overriding revenue (GOR) royalty on the Tres Quebradas project, providing direct exposure to its production profile and future expansion potential.
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Lithium Royalty Corp Congratulates Zijin Mining on Commencement of Production at Tres Quebradas, source
