Shares in Lithium Americas (TSX, NYSE: LAC) almost doubled their price on Wednesday, jumping more than 95% mid-afternoon in New York on reports that the US government may seek a stake in the Canadian miner.
The company confirmed it is in discussions with the US Department of Energy and its partner in the Thacker Pass lithium project in Nevada, General Motors (NYSE: GM), about conditions for the first draw of a $2.3 billion loan, which will help finance construction at its site.
Reuters reported late on Tuesday the Trump administration was weighing a potential equity stake of as much as 10% in exchange for adjusting the terms of the record loan, finalized in 2024.
Thacker Pass, approved in the final days of Donald Trump’s first presidency, is home to North America’s largest known lithium deposit. Phase 1 is expected to produce 40,000 tonnes of battery-quality lithium carbonate annually, which…
