Image courtesy of Lithium Americas Corp.
The U.S. Department of Energy will take a 5% stake in Lithium Americas (TSX: LAC) and a separate 5% stake in the company’s Thacker Pass lithium mine joint venture with General Motors (NYSE: GM), a source familiar with negotiations said.
Shares of Vancouver-based Lithium Americas listed in New York rose 34% in after-hours trading on Wednesday after the stake negotiations were finalized.
It will be the latest private sector investment by President Donald Trump’s administration after recent stakes in Intel and MP Materials (NYSE: MP) seeking to boost industries seen as vital to U.S. national security.
Last week, Reuters reported that administration officials were in discussions with Lithium Americas about an equity stake as they renegotiated terms of a $2.26 billion government loan for the mine, slated to become the largest source of the battery metal lithium…
