(All amounts in US$ unless otherwise indicated)
VANCOUVER, British Columbia / Dec 23, 2024 / Business Wire / Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) today announced the closing of its previously announced joint venture (the “JV”) with General Motors Holdings LLC (“GM”) to fund, develop, construct and operate Thacker Pass in Humboldt County, Nevada to supply battery-quality lithium carbonate for the North American critical minerals supply chain (“Thacker Pass” or the “Project”).
Lithium Americas now holds a 62% interest in Thacker Pass and will manage the Project. GM has acquired a 38% interest in Thacker Pass for $625 million in total cash and letters of credit (“GM’s JV Investment”), comprised of $430 million of direct cash funding to the JV to support the construction of Phase 11 and a $195 million letter of credit facility (“LC…
