LAC - GM and Lithium Americas Strike $650M Deal to Develop Largest Known Lithium Mine in the US
General Motors just announced that it will invest $650 million in Lithium Americas ( TSX:LAC ) ( NYSE:LAC ) to secure access to lithium, a critical component of electric vehicle (EV) batteries. The two companies said it is the largest expenditure a carmaker has ever made to procure raw materials for batteries. When the lithium from the Thacker Pass project is recovered and processed, it will be enough for GM to produce up to one million EVs each year. Thacker is expected to be the largest lithium mine in the United States once it begins production in 2026, and it will assist immensely in filling the requirement for North America-sourced lithium. The United States and Canada are working to wean themselves off their reliance on Chinese-controlled lithium through their separate critical minerals policies. In Canada, E3 Lithium ( TSXV:ETL ) ( OTXQC:EEMMF ) has a strong land position in the business-friendly province of Alberta. American Lithium Corp. ( TSXV:LI ) ( NASDAQ:AMLI ), Albemarle Corporation ( NYSE:ALB ) and Sociedad Quimica y Minera de Chile SA ( NYSE:SQM ) are other key players in the lithium market with projects in the U.S. and South America.
Alberta’s leading lithium developer and extraction technology innovator E3 Lithium ( TSXV:ETL ) ( OTXQC:EEMMF ) has continued to achieve important milestones in both developing its 24.3 million tonnes of inferred lithium resources in Alberta and scalin...
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