Latin Resources Ltd (ASX:LRS) (FRA:XL5) has greatly enhanced its South American lithium credentials with the appointment of Pablo Tarantini as a non-executive director, with immediate effect.
This appointment follows the signing last week of a transformative joint venture for the company’s Catamarca lithium pegmatite projects with leading Argentinian investment group Integra Capital S.A.
As well as Integra becoming a cornerstone investor of Latin with a 10% shareholding, the new JV brings the company much closer to becoming a lithium producer.
This process is expected to be moved along quickly with Tarantini’s appointment owing to his broad professional experience in the mining industry.
“High level of experience”
Latin’s managing director Chris Gale said: “We really welcome Pablo onto our board representing our new largest shareholder.
“Pablo brings with him a wealth of not only commercial experience, but also a high level of Argentine mining experience within the mining sector.”
Investment roles
For two years, Tarantini has served as executive director of the Argentinian Bureau of Investment and International Trade, coordinating investment initiatives and contributing with his vast experience in several industries and countries.
In this role, he worked together with mining companies settled in the country and supported the promotion of the mining activity in Argentina, along with the Argentinian Secretary of Mining.
Gale added: “This will assist Latin and Integra to reach our objective of becoming a lithium producer, hopefully, in the near term.”
New Integra partnership
The partnership arrangement with Integra will see the prominent global resources and energy investor and one of Argentina’s largest lithium explorers and investors, spend up to US$1 million (A$1.4 million) to explore, develop and earn a 50% interest in the Catamarca projects.
Integra, which holds more than 400,000 hectares of lithium brine projects in Jujuy and Catamarca provinces, has also taken a 10% cornerstone placement in Latin through its founder and president, Jose Luis Manzano.
The new JV will underpin an aggressive exploration program, with the initial aim of delivering a maiden JORC resource and bringing the project into production as soon as possible.
Well-qualified
Latin’s new director has served as president and executive director of Argentinian private fund SAPISA and Minera Don Nicolás, one of its investments in the mining sector.
These roles bode well for Latin as Minera Don Nicolás is the first mining project based on Argentinian capital.
Tarantini has also served as M&A director at General Electric and Advent International Corporation for Latin America and as manager at AT Kearney.
In these roles, he worked extensively with businesses and projects at the regional level.
He is a Public Accountant and holds a Bachelor Degree in Business Administration from Universidad Católica Argentina (UCA) as well as being a Master in Business Administration from Harvard Business School.