LAC - Lithium Americas gets federal OK to continue Thacker Pass construction

2023-05-16 16:57:00 ET

The Biden administration said Tuesday it completed a court-ordered review that should ensure construction continues at Lithium America's ( NYSE: LAC ) Thacker Pass lithium mine project in Nevada, finding nearly all of the site contains the metal used to make electric vehicle batteries.

Of the dozens of mining claims at the Thacker Pass site held by the company, the Interior Department reportedly found fewer than 10 did not contain lithium mineralization .

Earlier this year, a federal judge rejected claims that the Thacker Pass project would cause unnecessary harm to the environment, but allowed construction to begin while the agency provided additional proof that Lithium Americas ( LAC ) has the mineral rights necessary to dump waste rock and tailings from the operation on adjacent federal land.

The Interior Department announced today it completed the review necessary to establish mineral rights on the land adjacent to the company's project and is convinced it will satisfy the judge's requirement.

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