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 Thacker Pass lithium mine, located in Nevada, has the largest lithium deposit in the U.S., capable of meeting a significant portion of global lithium demand for batteries and energy storage systems.
- General Motors Co. conditionally agreed to invest $650 million in Lithium Americas for exclusive access to the first phase of the Thacker Pass mine.
- The Trump administration is negotiating a deal to gain up to a 10% equity stake in Lithium Americas, which operates the Thacker Pass lithium mine in Nevada.
- Lithium Americas shares surged 95% after the announcement of the potential equity stake by the Trump administration.
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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