Shareholders approved plans to separate the lithium producer’s U.S. and Argentine business units into two public independent companies, with a Vancouver-based entity overseeing its U.S. project and other North American investments. The company expects to complete the split in early October, subject to regulatory approvals and closing conditions. Shares fell about three per cent on Tuesday afternoon. (The Logic)

Talking point: The General Motors-backed company has said the split will allow it to focus on the second stage of its expansion in Argentina, while focusing on construction and production of phase one at its Nevada site, Thacker Pass. The company also hopes the move helps attract and maintain key employees and allows for more independent investment opportunities, amid a rush to build a North American electric-vehicle battery supply chain. A court cleared the Thacker Pass development two weeks ago, defeating a challenge that alleged that some Indigenous tribes were not adequately consulted.