Lithium Argentina (NYSE:LAR) today announced its financial and operational results for the fourth quarter and full year ended December 31, 2025, marking a year of significant operational maturity.
The company's flagship Cauchari-Olaroz brine operation—a joint venture with Ganfeng Lithium—produced approximately 34,100 tonnes of lithium carbonate equivalent (LCE) in 2025.
This result represents a 34% increase over 2024 and sits at the high end of the company's upwardly revised guidance.
Financial performance in the fourth quarter was bolstered by record quarterly output of 9,700 tonnes, allowing the plant to operate at roughly 97% of its nameplate capacity.
Lithium Argentina reported Q4 revenue of $92 million, while aggressive optimization efforts successfully drove cash operating costs down to $5,618 per tonne.
This cost-efficiency enabled the Cauchari-Olaroz operation to distribute $85 million in cash during the quarter, with Lithium Argentina receiving its $42 million proportionate share.
To fuel its next leg of growth, the company recently closed a $130 million six-year debt facility (at SOFR + 2.5%), providing a flexible capital cushion.
For 2026, management has set a production guidance of 35,000 to 40,000 tonnes of lithium carbonate.
While the company reported a net loss of $39 million for the full year 2025—largely due to non-cash foreign exchange fluctuations—the fundamental cash flow from operations remains robust as lithium prices show signs of a rebound entering the new year.
The company is now pivoting toward its "Stage 2" expansion at Cauchari-Olaroz, which targets an additional 45,000 tonnes per annum of capacity.
Applications for the expansion have already been submitted under Argentina's new Incentive Regime for Large Investments (RIGI).
Concurrently, development continues at the Pozuelos-Pastos Grandes (PPG) project, where a RIGI application is expected in the first half of 2026.