BEIJING, March 5 (Reuters) - Ganfeng Lithium

said on Tuesday it plans to buy a stake of at least 14.8% in a

subsidiary of Lithium Americas Argentina Corp ( LAAC ), as

China's leading lithium producer ramps up its efforts to secure

resources.

Ganfeng Lithium will subscribe to up to $70 million worth of

new shares in Proyecto Pastos Grandes S.A.(PGCO), with the

proceeds to be used for the development of the Pastos Grandes

lithium salt lake project in Argentina, the company said in a

filing to the Shenzhen Stock Exchange.

The deal, pending regulatory approval, would give Ganfeng

more access to resources in Argentina where it already owns the

Cauchari-Olaroz lithium project and the Ganfeng Mariana Salt

Lake Project.

Established in 2016, PGCO owns two lithium projects in

Argentina - the Pastos Grandes lithium project and Cauchari East

lithium project, according to Ganfeng.