Lithium Americas Corp. announced the closure of a $2.26 billion loan from the U.S. Department of Energy (DOE) on October 28, 2024, for its Thacker Pass project in Nevada. The loan, provided under the Advanced Technology Vehicles Manufacturing Loan Program, will finance the construction of processing facilities targeted to produce 40,000 tonnes of battery-quality lithium carbonate annually.The DOE loan terms include interest rates fixed at applicable U.S. Treasury rates and a maturity date of October 20, 2048. It will be supplemented by a previously announced $625 million investment from General Motors, which will acquire a 38% stake in the project. Lithium Americas aims for a final investment decision by year-end, following the closure of the GM joint venture transaction.The company expects to...Show More

Lithium Americas Corp. announced the closure of a $2.26 billion loan from the U.S. Department of Energy (DOE) on October 28, 2024, for its Thacker Pass project in Nevada. The loan, provided under the Advanced Technology Vehicles Manufacturing Loan Program, will finance the construction of processing facilities targeted to produce 40,000 tonnes of battery-quality lithium carbonate annually.The DOE loan terms include interest rates fixed at applicable U.S. Treasury rates and a maturity date of October 20, 2048. It will be supplemented by a previously announced $625 million investment from General Motors, which will acquire a 38% stake in the project. Lithium Americas aims for a final investment decision by year-end, following the closure of the GM joint venture transaction.The company expects to make the first draw on the DOE loan in mid-2025, subject to conditions including closing the GM transaction, funding reserve accounts, and securing additional corporate working capital. The loan agreement includes customary covenants, events of default, and conditions precedent for a project finance facility, with Lithium Americas providing guarantees until certain release conditions are met.