LAC - Lithium Americas Receives Record Loan For $2.2B Milestone Project In Nevada | Benzinga
Lithium Americas (NYSE:LAC) has received a conditional commitment for a $2.26 billion loan from the U.S. Department of Energy (DOE) to develop its Thacker Pass project, the largest lithium deposit in the United States. The record loan comes at a turbulent time for the industry, with prices declining by 80% from the peak in December 2022.
“Our team has been focused on refining the development plan and de-risking construction execution of Phase 1 for Thacker Pass,” said President and CEO, Jonathan Evans.
“We have de-risked execution by advancing detailed engineering and project planning. To date, we have completed all the early works and infrastructure required for major construction, including excavating the processing plant areas. We anticipate issuing full notice to proceed and commencing major construction shortly following ...