"The Trump administration is taking a 5 percent equity ownership of mining company Lithium Americas, on top of another 5 percent stake in the company's joint mining project with GM in Nevada, the Department of Energy announced yesterday. The mine at Thacker Pass is expected to become the largest producer of lithium in the western hemisphere once it opens in 2028. Lithium is a crucial component in batteries used for electric vehicles, wind and solar energy storage, and rechargeable devices of all kinds."
"The Thacker Pass is supposed to produce around 40,000 metric tons of lithium carbonate annually for batteries once it's fully operational. US production of lithium is currently under 5,000 metric tons. For comparison, China - the third biggest lithium producer after Australia and Chile - already produces 40,000 metric tons annually. The mine has been under construction since 2023, following fierce opposition from nearby Native American tribes."
The Trump administration is taking a 5 percent equity ownership in Lithium Americas along with an additional 5 percent stake in its Nevada joint project with GM. Thacker Pass is projected to produce about 40,000 metric tons of lithium carbonate annually when operational in 2028, compared with U.S. production under 5,000 metric tons and China's roughly 40,000 metric tons. Lithium is essential for electric vehicle batteries and renewable energy storage. Construction began in 2023 amid opposition from Native American tribes, ranchers, and environmental groups. Human Rights Watch and the ACLU found permitting allegedly failed to secure free, prior, and informed consent. Lithium Americas secured a $2.26 billion loan in October 2024 and restructuring added over $100 million in equity.
Read at The Verge
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