Lake Resources, the ASX-listed mining hopeful with a flagship project located in Argentina’s lithium triangle, says it will have to slash jobs and sell assets as it faces lower commodity prices and searches for a development partner.

Lake told investors on Monday that it was trying to sell four other projects in Argentina to focus on the company’s flagship Kachi development. Lake chief executive David Dickson said those projects – Paso de Jama, Olaroz, Cauchari and Ancasti – were not core to operations. The company needs a partner for the $2 billion Kachi development.