Particle.news
Download on the App Store
26 ARTICLES
·
1h ago

U.S. Takes 5% Stakes in Lithium Americas and Thacker Pass as DOE Reshapes Loan

The move adds equity collateral to a reworked federal loan to shore up U.S. lithium supply chains.

FILE - An "Access Restricted" sign is displayed at the Lithium Nevada Corp. mine site at Thacker Pass, April 24, 2023, near Orovada, Nev. (AP Photo/Rick Bowmer, File)
Image
Image
FILE - Construction continues at the Lithium Nevada Corp. mine site Thacker Pass project, April 24, 2023, near Orovada, Nev. (AP Photo/Rick Bowmer, File)

Overview

  • The Energy Department will acquire 5% stakes in Lithium Americas and the Thacker Pass joint venture via warrants that serve as additional loan collateral.
  • Lithium Americas said the DOE will advance an initial $435 million draw on the federal loan and defer $182 million of debt service over the first five years.
  • Officials described the agreement as in principle, with the Nevada project continuing toward phase‑one output of about 40,000 metric tons of battery‑grade lithium carbonate per year.
  • Shares of Lithium Americas surged roughly 30% to 40% following the announcement.
  • General Motors holds about 38% of the project and has rights to early production, while the DOE outlined an eventual exit strategy for the government’s equity.