Lithium Argentina reports $15.2 million net loss in 2024

Lithium Argentina AG, based in Switzerland, released its financial results for the fourth quarter and the full year of 2024. The company reported a significant net loss of $15.2 million. This is a stark decline from a net income of $1.3 billion the previous year. The loss was mainly attributed to a $28.2 million share of losses from the Cauchari-Olaroz operation. The company faced additional challenges, including foreign exchange losses and lower financial gains. In 2023, it recorded a one-time gain from the distribution of assets related to its North American operations, which it did not have in 2024. Despite the overall loss, the company benefited from a $10.7 million deferred tax recovery and lower exploration and administrative costs. This helped mitigate some of the financial damage. Lithium Argentina produces lithium carbonate primarily for batteries used in electric vehicles. The company operates the Cauchari-Olaroz lithium brine project in Argentina in partnership with Ganfeng. It is also working on developing more lithium resources in the region. For 2025, the company plans to produce between 20,000 and 25,000 metric tonnes of lithium. They emphasized the importance of their financial measures to provide better insights into operational performance. Investors were also cautioned that forward-looking statements from the company involve uncertainties and risks that could affect actual results.