Overview
- Caucharí‑Olaroz produced over 34,000 tons in 2025, with about 9,700 tons in Q4 that management said was roughly 97% of capacity.
- The plant reached steadier output after work on brine management, wellfield performance, process stability, and lower reagent use.
- Unit cash costs fell to about $5,600 per ton in Q4 after more than $8,000 per ton in early 2024, and management now targets about $5,400 per ton over the long term.
- The operation generated $56 million of adjusted EBITDA in 2025 and paid out $85 million, raising LAAC cash to about $95 million with a new $130 million Ganfeng facility in place.
- Management guides 35,000 to 40,000 tons for 2026 as it advances Stage 2 at Caucharí‑Olaroz and a phased Pastos Grandes plan toward more than 200,000 tons using minority funding.