US takes a stake in lithium mining company in Nevada
a day ago
- #U.S. Energy Policy
- #Lithium Mining
- #Electric Vehicles
- The U.S. government is taking a 5% equity stake in Lithium Americas and its Thacker Pass lithium mining project in Nevada.
- Thacker Pass is crucial for reducing U.S. reliance on China for lithium, a key material for EV batteries and renewable energy.
- The project is supported by both Republicans and Democrats and is expected to produce 40,000 metric tons of lithium annually in its first phase.
- The Department of Energy has agreed to defer $182 million of debt service over the first five years of a $435 million federal loan.
- General Motors has pledged over $900 million to develop Thacker Pass, which holds enough lithium for 1 million EVs annually.
- Shares of Lithium Americas surged over 30% following the announcement.
- The deal is part of broader U.S. efforts to secure critical minerals and strengthen domestic supply chains.