Lithium Americas Corp. Included in Global Lithium ETF (LIT)
Lithium Americas Corp. (TSX:LAC) (“Lithium Americas” or the “Company”), today announced that it has recently been included in the Global X Lithium Exchange Traded Fund (NYSE:LIT).
The ETF, launched by Global X Funds, tracks the Solactive Global Lithium Index. This index is designed to reflect the performance of the largest and most liquid listed companies that are active in the exploration and / or mining of lithium or the production of lithium batteries.
“We see inclusion in the lithium ETF as affirmation that Lithium Americas is one of the largest and most advanced companies in the lithium exploration and development industry,” said Waldo Perez, President and CEO of Lithium Americas Corp. ”Having recently defined the third largest lithium brine deposit in the world, and already producing lithium carbonate at laboratory scale, we are focussed on completing our Preliminary Economic Assessment in Q1 2011 and are targeting mine construction for 2012, subject to final feasibility. Given our successful progress to date, and the advanced state of our project, we feel confident that Lithium Americas will be one of the first large-scale lithium brine producers to begin commercial production.”
About the Company
Lithium Americas Corp. is a Company focused on the development of lithium and potassium projects in South America. The Company’s principal and most advanced property comprises a significant portion of two adjacent Argentinean salt lakes, Cauchari and Olaroz, covering 64,572 hectares located in the Puna Plateau. The Puna Plateau is the most prolific brine reserve region globally, hosting approximately 84 percent of the world’s lithium brine reserves. To the best knowledge of Lithium Americas, its principal property is the 3rd largest lithium brine resource in the world. Mitsubishi Corporation and Magna International are shareholders in the Company, in addition to both companies having off-take arrangements with Lithium Americas. Additional information concerning the Company’s Cauchari-Olaroz project and its in situ measured, indicated and inferred resource can be obtained from its NI 43-101 technical report dated Monday December 6th, 2010 and filed on SEDAR.
This press release contains forward-looking statements, which can be identified by the use of statements that include words such as “could”, “potential”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “likely”, “will” or other similar words or phrases. The Company does not intend, and does not assume any obligations, to update forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required by applicable securities laws. Readers should not place undue reliance on forward-looking statements. Readers should review the Company’s prospectus dated May 6, 2010 for a list of risks associated with the Company, and its business.