"The U.S. government is taking a minority stake in Lithium Americas, a company that is developing one of the world's largest lithium mines in northern Nevada. The Department of Energy will take a 5% equity stake in the miner, which is based in Vancouver. It will also take a 5% stake in the Thacker Pass lithium mining project, a joint venture with General Motors."
"Thacker Pass is expected to produce 40,000 metric tons of battery-quality lithium carbonate per year in its first phase, enough to help power 800,000 EVs. Lithium Americas said Wednesday that it reached a non-binding agreement in principle with the DOE to advance the first draw of $435 million on the federal loan. The DOE has agreed to defer $182 million of debt service over the first five years of the loan."
"The equity stake in Lithium Americas is the latest example of the direct intervention by the Trump administration with private companies. The government is getting a 10% stake in Intel through the conversion of billions in previously granted government funds and pledges. The administration spent $400 million of taxpayer money in July on MP Materials stock to make the U.S government the biggest owner in the Las Vegas rare earths miner."
DOE will take 5% equity in Lithium Americas and a 5% stake in the Thacker Pass project, a joint venture with General Motors. Thacker Pass is expected to produce 40,000 metric tons of battery-quality lithium carbonate per year in its first phase, enough to power about 800,000 electric vehicles. The project aims to reduce U.S. reliance on China for lithium and has bipartisan support. Lithium Americas reached a non-binding agreement to advance a first draw of $435 million on a federal loan, with DOE deferring $182 million of debt service over the first five years. The move follows other federal interventions including stakes in Intel and MP Materials.
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