BUZZ-Australia's Deterra Royalties rises on final investment decision for project

Reuters
04-02
BUZZ-Australia's Deterra Royalties rises on final investment decision for project

** Shares of Deterra Royalties DRR.AX rise 0.7% to A$3.735

** The investment manager and fund operator says Lithium Americas Corporation and General Motors Holdings LLC announced a final investment decision $(FID.AU)$ for Phase 1 of Thacker Pass, in which DRR holds a 4.8% gross revenue royalty

** Confirmation of the FID by JV partners puts project on track to complete Phase 1 in late 2027 - co

** Stock rose as much as 1.8% earlier in the day

** Stock marginally up 0.5% this year, including the day's move

(Reporting by Shivangi Lahiri in Bengaluru)

((shivangi.lahiri@thomsonreuters.com;))

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