Overview

• The administration is pressing for an equity stake of as much as 10% in Lithium Americas as part of negotiations to restructure the Energy Department loan for the Thacker Pass project, according to Reuters.
• Officials are pushing General Motors, which holds a 38% stake, to convert its existing purchase rights into a binding offtake guarantee for the mine’s lithium.
• In response, Lithium Americas offered the government no‑cost warrants equal to roughly 5%–10% of its common shares and funds to cover fees tied to adjusting the loan’s amortization schedule, a source told Reuters.
• The project’s first draw on the loan was postponed after concerns over repayment tied to low prices linked to Chinese overproduction prompted the renegotiation.
• The review is part of a broader reassessment of the DOE’s roughly $400 billion clean‑energy financing program, while construction at Thacker Pass continues toward an expected 2028 Phase 1 output of about 40,000 metric tons per year.