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Economy|MiningUS takes a stake in another firm, this time a large lithium mineVancouver-based Lithium Americas is developing one of world’s largest lithium mines in northern Nevada.

The United States government has acquired a minority stake in Lithium Americas, a company engaged in the development of one of the world's largest lithium mines located in northern Nevada.

LBy Laura MitchellOct 01, 20252 min read

The United States government has acquired a minority stake in Lithium Americas, a company engaged in the development of one of the world's largest lithium mines located in northern Nevada.

The Department of Energy will hold a 5 percent equity stake in Lithium Americas, which is headquartered in Vancouver. Additionally, it will take a similar stake in the Thacker Pass lithium mining project, a joint venture with General Motors.

Thacker Pass is a key initiative aimed at diminishing US reliance on China for lithium, a vital component in high-tech batteries used for cellphones, electric vehicles, and renewable energy solutions. The project enjoys bipartisan support in the US, focusing on reducing the production gap, as China remains the leading global processor of lithium.

The first phase of Thacker Pass is projected to produce 40,000 tonnes of battery-quality lithium carbonate annually, contributing to the powering of approximately 800,000 electric vehicles.

The Department of Energy will hold a 5 percent equity stake in Lithium Americas, which is headquartered in Vancouver.
Laura Mitchell · Thehackingpost

The US Energy Secretary Chris Wright stated that the agreement with Lithium Americas "helps reduce our dependence on foreign adversaries for critical minerals by strengthening domestic supply chains and ensures better stewardship of American taxpayer dollars."

Lithium Americas announced a nonbinding agreement with the Department of Energy to initiate the first draw of $435 million on a federal loan. The Department has agreed to defer $182 million of debt service during the first five years of the loan.

The acquisition of a stake in Lithium Americas is part of broader governmental efforts to secure critical mineral resources. The government previously secured a 10 percent stake in Intel through the conversion of earlier government funds and pledges. Additionally, $400 million was spent on MP Materials stock, establishing the US government as the largest owner of the Las Vegas-based rare earths miner.

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General Motors has committed over $900 million to support the Thacker Pass development, which contains sufficient lithium to manufacture one million electric vehicles annually.

Shares of Lithium Americas saw a significant increase, rising by more than 30 percent following the announcement.

Based on reporting by Al Jazeera.

AI transparency. This article was produced with the assistance of artificial intelligence and published under human editorial oversight. AI systems can make mistakes. Read how we use AI (EU AI Act, Art. 50).
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