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U.S. Takes 5% Stakes in Lithium Americas and Thacker Pass as DOE Restructures $2.3 Billion Loan

No‑cost warrants give the government collateral exposure that enables a $435 million first draw to speed Nevada lithium production.

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)
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FILE - Construction continues at the Lithium Nevada Corp. mine site Thacker Pass project, April 24, 2023, near Orovada, Nev. (AP Photo/Rick Bowmer, File)
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

  • DOE secured 5% stakes via no‑cost warrants in Lithium Americas and the Thacker Pass joint venture as part of a reworked ~$2.26–$2.3 billion loan package.
  • The agreement authorizes an initial ~$435 million disbursement and adds loan modifications, including a reported $182 million debt‑service deferral over the first five years.
  • The Loan Programs Office said the structure provides added collateral for taxpayers and brings more than $100 million in new equity to strengthen repayment resilience.
  • General Motors retains a 38% project stake with rights to purchase output, backing a first‑phase capacity projected at about 40,000 metric tons of lithium carbonate per year.
  • Lithium Americas shares rose roughly 30%–35% in after‑hours and premarket trading following the announcement, while legal and community challenges to Thacker Pass persist.