Lithium Americas' subsidiary Lithium Nevada Corp. (LNC) has closed a $2.26 billion loan from the U.S. Department of Energy for the Thacker Pass project construction. The loan includes $1.97 billion in principal and $290 million in capitalized interest, with interest rates fixed at U.S. Treasury rates. The loan will mature on October 20, 2048.The financing package is complemented by a previously announced joint venture with General Motors, who will acquire a 38% stake in LNC for $625 million, including a $195 million letter of credit facility to support loan reserve requirements. The company targets final investment decision and full notice to proceed by year-end, following the GM transaction closure.The first draw on the DOE loan is expected in mid-2025, subject to conditions including closing the GM joint venture, funding reserve accounts, securing additional corporate working capital, and project finance model verification. The project aims to produce 40,000 tonnes of battery-quality lithium carbonate annually.

Lithium Americas' subsidiary Lithium Nevada Corp. (LNC) has closed a $2.26 billion loan from the U.S. Department of Energy for the Thacker Pass project construction. The loan includes $1.97 billion in principal and $290 million in capitalized interest, with interest rates fixed at U.S. Treasury rates. The loan will mature on October 20, 2048.The financing package is complemented by a previously announced joint venture with General Motors, who will acquire a 38% stake in LNC for $625 million, including a $195 million letter of credit facility to support loan reserve requirements. The company targets final investment decision and full notice to proceed by year-end, following the GM transaction closure.The first draw on the DOE loan is expected in mid-2025, subject to conditions including closing the GM joint venture, funding reserve accounts, securing additional corporate working capital, and project finance model verification. The project aims to produce 40,000 tonnes of battery-quality lithium carbonate annually.