US EditionTrump moves toward deal to give US an equity stake in company developing Nevada lithium mine
The U.S. Department of Energy took a 5% equity stake in Lithium Americas and its Thacker Pass mine to strengthen domestic lithium supply and reduce reliance on China.
- The U.S. Department of Energy will take a five percent equity stake in Lithium Americas and its joint venture with General Motors to secure critical minerals for electric vehicles.
- Lithium Americas' shares surged over 30 percent following the announcement, reflecting investor optimism despite concerns about potential dilution of shareholder value.
- The Thacker Pass lithium mine, under development, is expected to produce 40,000 metric tons of battery-quality lithium annually, enough to power 800,000 electric vehicles.
- Energy Secretary Chris Wright stated that the deal strengthens domestic supply chains and helps reduce dependence on foreign sources for critical minerals.
164 Articles
164 Articles
Trump Acquires Major Lithium Mine Stake for U.S. Government.
PULSE POINTSWHAT HAPPENED: The U.S. government has taken a minority stake in Lithium Americas to support the development of one of the world’s largest lithium mines in northern Nevada.WHO WAS INVOLVED: The U.S. Department of Energy, Lithium Americas, General Motors, and U.S. Energy Secretary Chris Wright.WHEN & WHERE: The agreement was announced on October 1, focusing on the Thacker Pass project in northern Nevada.KEY QUOTE: “This deal helps red…
Department of Energy to Take Stakes in Lithium Americas and Its Nevada Mine
Energy Secretary Chris Wright announced on Oct. 1 that the Department of Energy (DOE) is taking a 5 percent stake in Lithium Americas Corp. and another 5 percent stake in the Vancouver-based company’s lithium mine under construction in the Nevada desert—each among efforts of the federal government in its steps toward onshoring critical minerals. As of 1:40 p.m. EST, shares of Lithium Americas were up by 25.03 percent. The stock rose 100 percent …
US government takes equity stake in one of the world’s largest lithium mines
In windswept, remote Thacker Pass in the far northern reaches of Nevada, a massive lithium mine has drawn impassioned protest from local Indigenous peoples, ranchers, and environmentalists. | Photo: Getty Images Donald Trump’s administration is taking a 5 percent equity ownership of mining company Lithium Americas, on top of another 5 percent stake in the company’s joint mining project with GM in Nevada, the Department of Energy announced yeste…
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