(All amounts in US$ unless otherwise indicated)
VANCOUVER, British Columbia--(BUSINESS WIRE)--$LAC #Nevada--Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) ("Lithium Americas" or the "Company") is pleased to announce the closing of a $2.26 billion loan from the U.S. Department of Energy's ("DOE") Loan Programs Office ("LPO") under the Advanced Technology Vehicles Manufacturing ("ATVM") Loan Program (the "DOE Loan") for financing the construction of the processing facilities at Thacker Pass, located in Humboldt County, Nevada ("Thacker Pass" or the "Project").
HIGHLIGHTS
The DOE Loan will help finance the construction of Thacker Pass, targeted to produce an initial 40,000 tonnes per annum ("tpa") of battery-quality lithium carbonate ("Phase 1"). The Company is targeting to make the final investment decision ("FID") and issue full notice to proceed ("FNTP") by the end of the year.
The DOE Loan will be supplemented by the investment agreement ("Investment Agreement") announced on October 16, 2024 with General Motors Holdings LLC ("GM") to establish a joint venture ("JV") for the purpose of funding, developing, constructing and operating ("JV Transaction") Thacker Pass. Under the terms of the Investment Agreement, GM will acquire a 38% asset-level ownership stake in Thacker Pass for $625 million in total cash and letters of credit, including a $195 million letter of credit facility ("LC Facility") that can be used as collateral to support reserve account requirements under the DOE Loan.
"We're pleased to have the Department of Energy's support to advance Thacker Pass to production and significantly improve domestic output of critical lithium supply to meet the growing domestic need," said Jonathan Evans, President and Chief Executive Officer of Lithium Americas. "This essential loan helps us reduce dependence on foreign suppliers and secure America's energy future."
Mr. Evans added, "We have substantially de-risked project financing for Phase 1 and continue to work closely with General Motors following our announcement of the asset-level joint venture. We deeply appreciate the U.S. government's support as we develop Thacker Pass to become North America's largest lithium operator and continue collaborating with all our stakeholders to bring shared success for our company, local communities and our country."
DOE ATVM LOAN DETAILS
The key terms and conditions of the DOE Loan are summarized below:
Loan Quantum | |
Interest Rate | |
Tenor | |
Other Key Terms | |
The closing of the DOE Loan follows receipt of a Conditional Commitment in March 2024. Over the past several months, the DOE confirmed the Company satisfied all technical, legal and financial conditions to close the DOE Loan.
The Company expects to make the first draw on the DOE Loan sometime in the middle of 2025. Conditions precedent to first draw include closing the GM JV Transaction, funding DOE Loan reserve accounts through the GM LC Facility, securing additional corporate working capital and project finance model bring down.
BACKGROUND
Thacker Pass is currently the largest known Measured and Indicated lithium resource in North America, targeting total production capacity of 80,000 tpa of battery-quality lithium carbonate to be developed in two phases of 40,000 tpa, respectively (Phase 1 and "Phase 2"). Phase 1 production is anticipated to commence in 2027. Material sourced from Thacker Pass will support electric vehicle ("EV") eligibility for consumer incentives under the U.S. clean energy tax credits program. Production could support lithium needs for up to 800,000 EVs annually.
On October 15, 2024, GM and Lithium Americas entered into an Investment Agreement to establish a JV for the purpose of funding the development, construction and operation of Thacker Pass. Under the terms of the Investment Agreement, GM will acquire a 38% asset-level ownership stake in Thacker Pass for $625 million in total cash and letters of credit, including $430 million of direct cash funding to the JV to support the construction of Phase 1 of Thacker Pass and a $195 million LC Facility that can be used as collateral to support reserve accounts requirements under the DOE Loan. The JV announcement follows GM's January 2023 investment of $320 million in Lithium Americas, which resulted in GM acquiring approximately 15 million common shares of Lithium Americas. GM's investments in Lithium Americas and Thacker Pass represent the largest ever publicly announced investment by a U.S. OEM in a lithium carbonate project. GM has exclusive offtake rights for up to 100% of the lithium production from Phase 1 for up to 20 years and a 20-year offtake agreement for up to 38% of Phase 2 production volumes.
Initial construction commenced in early 2023 with site preparation for major construction completed. The Company is currently focused on advancing detailed engineering, procurement and execution planning ahead of making FID, expected by the end of the year, following closing of the GM JV Transaction.
TRANSACTION ADVISORS
In connection with the DOE Loan, Goldman Sachs & Co. LLC is serving as financial advisor, and Vinson & Elkins LLP is serving as legal counsel to Lithium Americas.
TECHNICAL INFORMATION
The scientific and technical information in this news release has been reviewed and approved by Rene LeBlanc, PhD, SME, Vice President, Growth and Product Strategy of the Company, and a "qualified person" as defined under National Instrument 43-101 and Subpart 1300 of Regulation S-K under the United States Securities Act of 1933.
ABOUT LITHIUM AMERICAS
Lithium Americas is committed to responsibly developing the Thacker Pass project located in Humboldt County in northern Nevada, which hosts the largest known Measured and Indicated lithium resource in North America. The Company is focused on advancing Thacker Pass Phase 1 towards production; targeting nameplate capacity of 40,000 tpa of battery-quality lithium carbonate. The Company and its engineering, procurement and construction management contractor, Bechtel, entered into a National Construction Agreement (Project Labor Agreement) with the North America's Building Trades Unions for construction of Thacker Pass. The three-year construction build is expected to create approximately 1,800 direct jobs. Lithium Americas' shares are listed on the Toronto Stock Exchange and New York Stock Exchange under the symbol LAC. To learn more, visit or follow @LithiumAmericas on social media.
（除非另有說明，所有金額均以美元計）
不列顛哥倫比亞省溫哥華--(美國商業資訊)--$LAC #Nevada--美國鋰業公司 (TSX: LAC)（紐約證券交易所代碼：LAC）（「Lithium Americas」 或 「公司」）欣然宣佈，美國能源部（DOE）貸款計劃辦公室（「LPO」）在先進技術汽車製造（「ATVM」）貸款計劃（「美國能源部貸款」）下完成了22.6億美元的貸款爲位於內華達州洪堡縣的Thacker Pass加工設施的建設提供資金（「Thacker Pass」 或 「項目」）。
亮點
美洲鋰業總裁兼首席執行官喬納森·埃文斯表示：「我們很高興得到能源部的支持，以推進Thacker Pass的生產，並顯著提高國內關鍵鋰供應的產量，以滿足不斷增長的國內需求。」「這筆基本貸款幫助我們減少對外國供應商的依賴，確保美國的能源未來。」
埃文斯補充說：「我們已經大幅降低了第一階段項目融資的風險，並在我們宣佈成立資產級合資企業後繼續與通用汽車密切合作。我們深切感謝美國政府對我們發展Thacker Pass成爲北美最大的鋰運營商的支持，並繼續與所有利益相關者合作，爲我們的公司、當地社區和我們的國家帶來共同的成功。」
DOE aTVM 貸款詳情
美國能源部貸款的關鍵條款和條件總結如下：
貸款金額 | |
利率 | |
男高音 | |
其他關鍵條款 | 項目融資貸款機制的慣常契約和違約事件 貸款效力和項目融資貸款機制預付款的先決條件的慣例
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美國能源部貸款的關閉是在2024年3月收到有條件承諾之後完成的。在過去的幾個月中，美國能源部證實，該公司滿足了所有技術、法律和財務條件，完成了美國能源部貸款。
該公司預計將在2025年中期的某個時候首次提取美國能源部貸款。首次提款的先決條件包括關閉通用汽車合資交易、通過通用汽車信用證融資機制爲美國能源部貸款儲備帳戶提供資金、爲更多公司提供擔保 營運資金 以及項目融資模式的崩潰。
背景
Thacker Pass是目前北美最大的已知測量和指示鋰資源，目標是分兩個階段開發電池質量的碳酸鋰的總產能爲80,000噸/年（第一階段和 「第二階段」），分別爲40,000噸/年。第一階段的生產預計將於2027年開始。根據美國清潔能源稅收抵免計劃，來自Thacker Pass的材料將支持電動汽車（「EV」）獲得消費者激勵措施的資格。年產量可以滿足多達80萬輛電動汽車的鋰需求。
2024年10月15日，通用汽車和美洲鋰業公司簽訂了一項投資協議，成立合資企業，爲Thacker Pass的開發、建設和運營提供資金。根據投資協議的條款，通用汽車將以6.25億美元的現金和信用證總額收購Thacker Pass38％的資產級所有權，其中包括向合資企業提供的4.3億美元直接現金資金，以支持Thacker Pass第一階段的建設，以及1.95億美元的信用證融資，可用作抵押品，以支持美國能源部貸款下的儲備帳戶要求。該合資公司公告是在通用汽車2023年1月向美洲鋰業投資3.2億美元之後發佈的，這導致通用汽車收購了美國鋰業公司約1500萬股普通股。通用汽車對美洲鋰業公司和Thacker Pass的投資是美國原始設備製造商有史以來對碳酸鋰項目公開宣佈的最大一筆投資。通用汽車擁有第一階段高達100％的鋰產量的獨家承購權，期限長達20年，並對第二階段產量的38％擁有爲期20年的承購協議。
初步施工於 2023 年初開始，主要施工的場地準備工作已經完成。該公司目前專注於推進詳細的工程、採購和執行計劃，然後再進行外國直接投資，該計劃預計將在通用汽車合資交易完成後於今年年底完成。
交易顧問
關於美國能源部貸款，高盛公司LLC擔任財務顧問，文森和埃爾金斯律師事務所擔任Lithium Americas的法律顧問。
技術信息
本新聞稿中的科學和技術信息已由中小企業、公司增長和產品戰略副總裁雷內·勒布朗博士，以及國家儀器43-101和1933年《美國證券法》第S-k條例第1300小節定義的 「合格人員」 的審查和批准。
關於美洲鋰業
Lithium Americas致力於負責任地開發位於內華達州北部洪堡縣的Thacker Pass項目，該項目擁有北美最大的已知測和指示鋰資源。該公司專注於推進Thacker Pass第一階段的生產；目標是電池質量碳酸鋰的銘牌產能達到40,000噸/年。該公司及其工程、採購和施工管理承包商Bechtel與北美建築工會簽訂了建造Thacker Pass的國家施工協議（項目勞動協議）。這座爲期三年的建築預計將創造約1,800個直接就業機會。Lithium Americas的股票在多倫多證券交易所和紐約證券交易所上市，股票代碼爲LAC。要了解更多信息，請在社交媒體上訪問或關注 @LithiumAmericas。
The DOE Loan for $2.26 billion will have interest rates fixed from the date of each monthly advance for the term of the loan at applicable U.S. Treasury rates. The DOE Loan amount includes funding of interest accrued during construction.
美國能源部22.6億美元的貸款將從貸款期限內每月預付款之日起按適用的美國國債利率固定利率。美國能源部貸款金額包括施工期間應計利息的資金。