Ganfeng Lithium, its joint venture partner in the Caucharí-Olaroz project, has entered into a three-year standstill agreement with the Canadian company, it said Friday. Ganfeng has agreed that it won’t acquire or facilitate the acquisition of a controlling interest in the company. Ganfeng holds a 46.7% stake in the project that started production last year, and Lithium Argentina holds 44.8%.
The move to the low-tax Canton of Zug is still subject to shareholder, stock exchange and court approval but could happen early next year.
Exodus to Switzerland?
The company’s plans come just over one week after another Canadian developer, Solaris Resources (TSX: SLS; NYSE: SLSR), said its own move to Zug from Canada is advancing.
The Toronto-based Solaris is leaving Canada after the federal government earlier this year began a national security review of China’s Zijin Mining’s plan to invest C$130 million in…
