Lithium Americas to get US loan for mine

Lithium Americas has received a conditional commitment from the US Department of Energy (DOE) for a $2.3 billion loan to help fund a lithium project the company is building near Thacker Pass in Humboldt County, Nevada. The DOE says the mine will reduce the US battery industry's reliance on imported raw materials. The Thacker Pass mine is expected to produce 40,000 metric tons (t) of lithium carbonate per year once it starts up in 2027—enough for the lithium-ion batteries in about 800,000 electric cars. Lithium Americas aims to eventually increase production to 80,000 t per year. In January 2023, General Motors announced that it would invest $650 million in the project. GM will have the right to buy up to 40,000 t of the mine's output for 15 years. Lithium Americas started site preparation in 2023, and major construction is expected to begin later this year, after the DOE loan