"US DOE to Provide $2.26 Billion Loan for Nevada Lithium Project"
The U.S. Department of Energy has granted Lithium Americas a conditional commitment loan of $2.26 billion to finance the construction of processing facilities at its Thacker Pass project in Nevada, with plans to start major construction in the second half of this year. The project aims to become North America's largest source of lithium for electric vehicle batteries and is expected to reach full-capacity production in 2028, targeting a production capacity of 80,000 tonnes per annum of battery-quality lithium carbonate. As a result, Lithium Americas' U.S.-listed shares rose 7.3% to $6.15 in premarket trading.