Lithium Americas and GM close joint venture for Thacker Pass mine
me-metals: Lithium Americas said on Monday it has closed its joint venture with US automaker General Motors to develop the Thacker Pass lithium mine in Nevada.
According to me-metals cited from mining.com, The miner’s CEO, Jonathan Evans said that the company is expected to make a final investment decision on the project in early 2025.
Under the JV agreement, first announced in October, GM would contribute $625 million to the project to gain a 38% stake in Thacker Pass in the form of cash and a credit facility.
The deal’s closing provides another boost for the giant lithium mine, months after the US finalized a $2.26 billion loan for the Nevada project.
Though the loan was granted under the Biden Administration, the US President-elect Donald Trump had approved the mine during his previous term.
Thacker Pass, slated to open later this decade, is expected to produce 40,000 metric tons of battery-quality lithium carbonate per year in its first phase, enough for up to 800,000 electric vehicles.
source: mining.com
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