PNN takes back 100% control of lithium asset in Argentina

Published 14-JAN-2026 12:28 P.M.

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Our Investment Power Minerals (ASX: PNN) just released an update on the status of the joint venture of its lithium project in Argentina

While we are mainly invested in PNN for its rare earth element (REE) project in Brazil, PNN also holds a lithium brine project in Argentina’s renowned lithium triangle.

PNN has a combined 714,864 tonne lithium carbonate equivalent (LCE) JORC resource estimate across three lithium assets in Argentina, the two most advanced being:

1. (Rincon) A project in the same salar (salt lake) where ASX listed Argosy Minerals and Rio Tinto have projects - This is PNN’s most advanced asset, with a Preliminary Economic Assessment (PEA) done back in 2023 with a post-tax NPV of US$308.8M based on capital expenditure of US$216.55M.

And

2. A project on the eastern fringes of the Incahuasi Salar, immediately adjacent to Ganfeng Lithium Co. Ltd.’s project. That project has a 249,308 tonne LCE JORC resource estimate.

Today, PNN took back 100% control over its more advanced Rincon asset.

The project was previously under a Joint Venture deal that would have seen partner Navigate Energy earn in a 59% interest in the project by investing US$4m.

The JV being cancelled means, PNN now gets back to a 100% ownership in the project.

And PNN confirmed that discussions are already underway “with potential new funding and development partners” to fast track the development of the project.

Including an engineering study for the project…

Here is where PNN’s asset sits relative to ASX Listed Argosy Minerals:

(Source)

What’s next for PNN?

🔄Drilling at Brazilian rare earths project

We want to see PNN start deeper RC drilling this month.

We also want to see PNN drill out and define a maiden JORC resource estimate in Brazil to enable comparison to peers.

Here are the milestones we are tracking on PNN’s Brazilian rare earths project:

Milestones:

✅ Geophysics/Geochemistry work (geophysics results today)

🔄 Drilling starts (Auger drilling started, RC drilling to commence in the coming weeks)

🔄 Drilling results

🔲 Maiden JORC resource estimate

🔄Regain control of the Rincon lithium asset

PNN will now need to repay US$1M to the previous Joint Venture partner (Navigate Energy) by 28th of February to take 100% ownership of the Rincon asset.