"The United States government is taking a minority stake in Lithium Americas, a company that is developing one of the world's largest lithium mines in northern Nevada. The Department of Energy will take a 5 percent equity stake in the miner, which is based in Vancouver. It will also take a 5 percent stake in the Thacker Pass lithium mining project, a joint venture with General Motors."
"US Energy Secretary Chris Wright said in a statement that the deal with Lithium Americas helps reduce our dependence on foreign adversaries for critical minerals by strengthening domestic supply chains and ensures better stewardship of American taxpayer dollars. Thacker Pass is expected to produce 40,000 tonnes of battery-quality lithium carbonate per year in its first phase, enough to help power 800,000 electric vehicles."
The U.S. Department of Energy will take a 5 percent equity stake in Lithium Americas and a 5 percent stake in the Thacker Pass joint venture with General Motors. Thacker Pass is one of the world's largest planned lithium mines in northern Nevada and is expected to produce 40,000 tonnes of battery-quality lithium carbonate per year in its first phase. That output could help power about 800,000 electric vehicles. The project aims to reduce U.S. reliance on China, the world's largest lithium processor. Both Republicans and Democrats support narrowing the domestic production gap. The federal investment follows other administration interventions, and Lithium Americas reached a nonbinding agreement in principle with the Department of Energy to advance financing.
Read at www.aljazeera.com
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