The company has interests in six lithium resources in Australia, Argentina, China and Ireland, but its primary source of lithium raw materials is Mount Marion in Western Australia. "As part of our expansion plan, we plan to increase our mineral resources through acquisitions of and/or investments in companies with existing exploration rights and additional mining assets," Ganfeng said. Some of the funds from the offering will be used to further develop Ganfeng's partnership with Lithium Americas (NYSE: LAC ), which is developing the Cauchari-Olaroz project in Argentina. The Chinese company has a $125-million credit line with Lithium Americas. Last year, Ganfeng also signed an offtake agreement with Pilbara Minerals (ASX: PLS ), which is developing the Pilgangoora lithium- tantalum project. Pilbara recently announced plans to expand the project in 2018. On Thursday (February 15), shares of Ganfeng closed up 6.33 percent, at 66.38 yuan, in Shenzhen.