Source: Gasgoo
According to foreign media reports, US Lithium miner Lithium Americas said on December 23 that the company has completed a joint venture cooperation with US automaker General Motors Co., the two sides will develop the Thacker Pass lithium mine joint venture project in Nevada.
Jonathan Evans, CEO of Lithium Americas, said the company expects to make a final investment decision on the project in early 2025.
“Lithium Americas and GM will work together to bring Thacker Pass into production to significantly increase domestic production of critical lithium supplies, reduce dependence on foreign suppliers, and begin creating new jobs and economic activity for Northern Nevada,” Evans said. We aim to announce a final investment decision in early 2025. Our engineering, procurement and construction management contractor, Bechtel, along with other lead contractors, have been working intensively on site to mitigate risks to the construction schedule, which we aim to complete by the end of 2027.”
Under the joint venture agreement, first announced in October, GM will pay $625 million for a 38 percent stake in Thacker Pass in the form of cash and credit.
A few months ago, the U.S. government finalized a $2.26 billion loan for the project. Now, the completion of the Lithium Americas and General Motors deal has once again pushed forward the progress of this giant lithium mine project.
While the loan was approved during the Biden administration, US President-elect Donald Trump had already approved the mine during his previous term.
Thacker Pass is scheduled to be in production by 2030 and is expected to produce 40,000 tons of battery-grade lithium carbonate per year in its first phase, enough to power up to 800,000 electric vehicles.
