The latest update is out from Lithium Americas Corp. ( (TSE:LAC) ).
Lithium Americas Corp. has announced the closing of a $250 million investment from Orion Resource Partners for the development of Phase 1 of the Thacker Pass lithium project in Nevada. This investment, along with contributions from General Motors and a loan from the U.S. Department of Energy, ensures that the project is fully funded through its construction phase, with completion targeted for late 2027. The project is significant as it aims to establish a U.S.-produced lithium supply chain, reducing reliance on foreign suppliers for critical minerals.
More about Lithium Americas Corp.
Lithium Americas Corp. is a company focused on the responsible development of the Thacker Pass project in Humboldt County, Nevada, which holds the largest known measured lithium resource and reserve globally. The company, which holds a 62% interest in the Thacker Pass joint venture with General Motors, aims to advance Phase 1 of the project towards production, targeting a capacity of 40,000 tons per year of battery-quality lithium carbonate. The project is expected to create nearly 2,000 direct jobs during its three-year construction phase.
YTD Price Performance: -11.44%
Average Trading Volume: 4,627,432
Technical Sentiment Signal: Buy
Current Market Cap: $591.1M
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