Shares of Lithium Americas surged nearly 90% after reports that the Trump administration is seeking up to a 10% stake in the company as part of a $2.26 billion Department of Energy loan for its Thacker Pass lithium project in Nevada, the largest planned lithium mine in the Western Hemisphere. The move reflects Washingtonโs growing efforts to boost domestic critical mineral production and reduce reliance on China, which dominates lithium refining. General Motors, which already holds a 38% stake, may be required to guarantee lithium purchases from the mine. Analysts say government involvement could strengthen funding and project viability, with production expected to start in 2028. The news also boosted shares of other lithium miners. They write:
The US is seeking an equity stake inย Lithium Americas Corp.ย as it renegotiates terms of a $2.3 billion Energy Department loan, according to people familiar with the matter.
Reutersย reported earlier Tuesday that the administration was seeking as much as a 10% stake in Lithium Americas, whose Thacker Pass mine in Nevada is one of the largest lithium deposits in the US. Shares of the Vancouver-based company almost doubled in postmarket trading in New York.
Taking an equity stake in Lithium Americas would be the latest example of the Trump administration intervening in the US economy in a bid to speed up development of local supply chains in critical minerals.ย […]
Bloombergย earlier reportedย that part of the discussions over the loan included an Energy Department push for General Motors Co. โ which holds a 38% interest in the mine โ to sign a binding offtake agreement for the mineโs production. GM declined to comment.
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