Business · Companies · 17 hrs ago
Pursuit Minerals proposes US$40m EcoPro deal for Argentina lithium project
Pursuit Minerals has proposed a US$40m funding deal with EcoPro Innovation for its Rio Grande Sur lithium project in Argentina.
The agreement is non-binding, so the proposed investment and funding are not final.
EcoPro proposes US$20m for a 20% stake in the project’s Argentine subsidiary, leaving Pursuit with 80% ownership and operational control.
It also proposes up to US$20m in advances, to be repaid through future lithium deliveries, in exchange for long-term supply of all Stage 1 output, about 5,000 tonnes a year.
Pursuit still needs third-party project debt of up to US$120m, as well as technical checks, product qualification and binding agreements.
The company says it will work with EcoPro to complete those steps and move the project towards construction and production.
Pursuit Minerals has signed a non-binding memorandum of understanding with South Korea’s EcoPro Innovation for a proposed US$40 million package for its Rio Grande Sur lithium project in Argentina.
The proposal includes a US$20 million investment for a 20% interest in Pursuit’s Argentine subsidiary and up to US$20 million in advances repayable through lithium deliveries.
EcoPro’s proposed life-of-mine offtake would cover all Stage 1 output, about 5,000 tonnes a year of lithium carbonate equivalent.
The proposals remain subject to due diligence, product qualification and binding agreements, and Pursuit would also need third-party project debt financing.
- Who
- Pursuit Minerals and South Korea’s EcoPro Innovation.
- What
- They signed a non-binding memorandum of understanding proposing a US$40 million investment and funding package, as well as offtake for Stage 1 production.
- When
- The article was published on November 9, 2026. The MoU’s signing date is not stated.
- Where
- Rio Grande Sur, in Argentina.
- Why
- The proposed package is intended to advance the lithium project and provide a prospective customer for its initial production.
This story does not have two clearly opposing sides.
Pursuit’s PFS addendum assessed a staged expansion from 5,000 to 17,500 tonnes a year of lithium carbonate equivalent.
Stockhead reported Pursuit’s non-binding MoU with EcoPro Innovation.
- Proposed package
- US$40 million
- Proposed project equity investment
- US$20 million for a 20% interest in Pursuit’s Argentine subsidiary
- Proposed offtake prepayments
- Up to US$20 million, repayable through future lithium deliveries
- Stage 1 offtake
- About 5,000 tonnes a year of lithium carbonate equivalent, with a 10% variation at Pursuit’s option
- Third-party project debt sought
- Up to US$120 million
- Stage 1 PFS funding requirement
- US$156.63 million
What people are saying
Partnering with a group of EcoPro Innovation’s scale and standing in the global battery materials industry is a strong endorsement of the quality of Rio Grande Sur and the development strategy we have pursued
The proposed US$40 million investment and funding package, combined with long-term offtake for our entire initial production, has the potential to fundamentally strengthen our development and financing pathway.
Importantly, the proposed investment is at the project level, allowing Pursuit to retain majority ownership and operational control while introducing a strategic partner directly aligned with the project’s success.