Lithium Americas In Co-operation Deal With POSCO

(RTTNews) - Lithium Americas Corp. (LAC.TO) Friday announced a co-operation agreement with POSCO, Korea's largest steel company and a leader in the development of advanced materials processes.

Pursuant to the agreement, POSCO will locate its next generation lithium extraction pilot plant at Lithium Americas' Cauchari-Olaroz project ("Project") in the province of Jujuy, Argentina. The pilot plant is expected to be operational at the Project during the fourth quarter of 2014.

In recent years, POSCO has been developing an innovative lithium extraction technology, which is both much faster than traditional brine evaporation technology, and minimizes the environmental footprint associated with large scale evaporation ponds.

"We are very pleased that POSCO selected our Project as the location for its large scale pilot plant," commented Franco Mignacco, Vice Chairman of Lithium Americas, and President of the company's Argentinean subsidiary, Minera Exar S.A.

"We look forward to working with POSCO and their lithium team to pursue the application of this advanced lithium extraction technology that significantly shortens the commercial production timeline for lithium and potassium compared to traditional evaporation technology."