All articles tagged with #thacker pass
Scientists have confirmed the world's largest lithium deposit beneath Nevada's McDermitt Caldera, potentially holding over 20 million metric tons of lithium, which could significantly impact the US's clean energy and electric vehicle industries. The deposit's unique volcanic origin presents both opportunities and challenges, with ongoing debates over environmental and cultural impacts.
The US government is taking a 5% stake in Lithium Americas and its Thacker Pass lithium project in Nevada to reduce dependence on China for critical minerals, supporting domestic lithium production crucial for electric vehicle batteries, with significant investments and federal loans backing the project.
Lithium Americas stock surged 33% after the U.S. government confirmed it will take a 5% stake in the company and its Thacker Pass lithium project, aiming to boost domestic lithium production and reduce imports, amid recent government investments in critical minerals.
Lithium Americas' stock surged 23% following news of potential U.S. government involvement, which could include warrants for 5-10% of the company or its Thacker Pass project, a purchase guarantee for lithium production, or a price floor to ensure profitability, with the most likely scenario being warrant issuance to renegotiate a loan.
The US government is negotiating to acquire up to a 10% stake in Lithium Americas' Thacker Pass lithium project, aiming to secure a domestic lithium supply and reduce reliance on Chinese imports, amid discussions to renegotiate a $2.26 billion loan and ensure commitments from major investor GM.
Lithium Americas' stock doubled after the Trump administration proposed taking an equity stake in the Canadian mining company as part of renegotiating a $2.2 billion loan for its Nevada lithium project, highlighting increased U.S. interest in securing critical mineral supply chains.
Lithium Americas' shares surged over 70% after reports that the Trump administration is considering taking up to a 10% equity stake in the company as part of negotiations to renegotiate a $2.26 billion loan for its Thacker Pass lithium mine, highlighting increased U.S. interest in critical minerals and domestic supply chain security.
The Energy Department is offering a $2.3 billion loan to Lithium Americas to boost domestic lithium production for electric vehicle batteries. The loan would fund the construction of a lithium carbonate processing plant at Thacker Pass in Nevada, which contains the largest known lithium deposit in North America. This move aims to strengthen the domestic supply chain for critical minerals and support the Biden administration's goal of reaching net zero emissions by 2050 through the broader adoption of electric vehicles.
The US Department of Energy has approved a $2.26 billion loan for Lithium Nevada to finance a lithium carbonate processing plant at the Thacker Pass mine in Nevada, which will become North America's largest source of lithium for EV batteries. The plant aims to produce 40,000 tonnes of lithium carbonate annually, with construction expected to start in 2023 and completion slated for 2028. The project is anticipated to create jobs and reduce reliance on foreign sources for battery supply chains. General Motors is set to be a primary buyer, and the loan will be offered through the Advanced Technology Vehicles Manufacturing Loan Program.
Lawyers representing environmentalists, tribes, and ranchers have urged a U.S. appeals court to vacate the approval of a Nevada lithium mine at Thacker Pass, arguing that it violates federal mining law. A U.S. district judge previously concluded that the Bureau of Land Management violated federal law when approving the mine's plan to bury public land under waste rock without determining the company's mining rights. The court's decision may hinge on a precedent-setting case that found mining companies cannot use federal land without valuable minerals for related purposes. The mine's opponents also argue that the environmental review was rushed and that meaningful consultation with tribes was not conducted.