"Record Loan Secured for Thacker Pass Lithium Project in Nevada"

The Biden administration is planning to offer a record loan of over $2 billion to Lithium Americas Corp. for developing the largest lithium deposit in Nevada. The loan from the US Department of Energy will help finance the construction of a lithium carbonate processing plant adjacent to the Thacker Pass mine, a promising opportunity for lithium production. This funding, the largest-ever loan to a mining company from the DOE's Loan Programs Office, aims to support domestic supplies of critical minerals and meet the increasing demand for lithium used in electric-vehicle batteries, solar panels, and wind turbines.