Lithium Americas Closes $250 Million Investment from Orion Resource Partners for Thacker Pass Lithium Project
VANCOUVER, British Columbia – Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) is pleased to announce the successful completion of the previously announced $250 million investment from fund entities managed by Orion Resource Partners LP (collectively, “Orion”). This investment will be used to advance the development and construction of Phase 11 of the Thacker Pass lithium project in Humboldt County, Nevada (“Thacker Pass” or the “Project”).
Background on the Thacker Pass Lithium Project
Thacker Pass is one of the largest and highest-grade lithium deposits in the world. The Project is expected to produce approximately 40,000 tonnes lithium carbonate equivalent per year (LCE/year) when fully developed, making it a significant contributor to the global lithium market.
Impact on Lithium Americas
This investment from Orion will enable Lithium Americas to proceed with the development and construction of Phase 11 of Thacker Pass, which includes the construction of a lithium processing plant, the expansion of the mine, and the development of supporting infrastructure. This milestone brings the Company one step closer to realizing the full potential of Thacker Pass and generating significant returns for its shareholders.
Impact on the World
The growing demand for lithium, driven primarily by the increasing adoption of electric vehicles (EVs), has put significant pressure on the global lithium market. Thacker Pass’s production capacity of 40,000 tonnes LCE/year will help alleviate some of this pressure and contribute to a more stable and secure supply of lithium for the world.
GM’s Involvement
Contemporaneously with the closing of the investment, Lithium Americas and General Motors Holdings LLC (GM) announced a strategic collaboration to secure a long-term, stable supply of lithium for GM’s EV battery production. This collaboration further solidifies Thacker Pass’s position as a key player in the global lithium market.
Conclusion
The closing of the $250 million investment from Orion represents a significant step forward for Lithium Americas and the Thacker Pass lithium project. With this investment, the Company will be able to proceed with the development and construction of Phase 11, bringing it closer to unlocking the full potential of Thacker Pass and contributing to a more stable and secure global lithium supply. The strategic collaboration with GM also underscores the importance of Thacker Pass in the global EV battery market.
- Lithium Americas completes $250 million investment from Orion for Thacker Pass
- Investment will be used for development and construction of Phase 11
- Thacker Pass is a significant lithium deposit with high-grade reserves
- Production capacity of 40,000 tonnes LCE/year will help alleviate market pressure
- Strategic collaboration with GM secures long-term, stable supply of lithium
