Lithium Americas to start Thacker Pass build in May

Market: Battery materials, Metals
28/03/25

Canadian lithium miner Lithium Americas (LAC) will start major construction at the Thacker Pass lithium project in Nevada in May 2025, with the aim to bring it to production in late 2027.

Detailed engineering is set to advance to over 90pc design completion by the end of 2025, up from the current 55pc.

"We successfully put in place the partnerships and capital required to develop and construct Phase 1 of Thacker Pass," president and chief executive officer Jonathan Evans said. "Once we declare the final investment decision, our team can focus on executing on the well-detailed plan to bring Thacker Pass to production in late 2027."

LAC secured a $250mn investment from Orion Resource Partners in March.

The company reported a net loss of $42.6mn in 2024, up from the $5.1mn loss in 2023, primarily due to higher transaction costs associated with closing the Department of Energy (DOE) loan and joint venture with General Motors.

In October 2024, LAC and the DOE finalized a $2.26bn loan under the Advanced Technology Vehicles Manufacturing Loan Program to finance the construction of processing facilities for Phase 1 of the Thacker Pass project.

By Carol Luk

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