By Josh Beckerman
Lithium Americas announced a final investment decision to proceed with its flagship Thacker Pass lithium project in Nevada.
Thacker Pass is owned by a joint venture between Lithium Americas and General Motors.
In October, the Energy Department's Loan Programs Office announced a $2.26 billion loan to help finance construction.
Lithium Americas closed its previously announced $250 million investment from Orion Resource Partners. The investment satisfies all remaining requirements from the DOE and GM to satisfy remaining equity fundraising requirements under the loan, Lithium Americas said.
Contemporaneously with the decision, GM and Lithium Americas contributed $100 million and $192 million in cash to the joint venture, respectively.
In January, Lithium Americas raised its mineral resource and reserve estimates for Thacker Pass.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
April 01, 2025 19:10 ET (23:10 GMT)
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