GM backs biggest US lithium project with $625m investment
General Motors will commit $625-million toward what’s likely to be one of the biggest US lithium mines, reinforcing the automaker’s efforts to secure domestic supply of the battery metal critical for electric vehicles.
The cash-and-credit funding deal with project developer Lithium Americas Corp. builds on a $320-million investment that GM made in the Canadian company last year. It will be crucial toward the miner unlocking a $2.3-billion funding package the US Energy Department offered on a conditional basis in March.
GM will support Lithium Americas with an additional $430-million cash lifeline as slumping lithium prices put existing producers under pressure and threatens US efforts to shore up future supplies. The Thacker Pass project in northern Nevada hosts the largest known lithium deposit in North America and is expected to produce approximately 40 000 metric tons per year once it’s fully operational.
GM will form a joint venture with Lithium Americas and take a 38% direct stake in the mine as part of the deal. The companies described the transaction as the biggest-ever publicly announced investment by a US manufacturer in a lithium carbonate project.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Multotec, recognised industry leaders in metallurgy and process engineering help mining houses across the world process minerals more efficiently,...
VISIT SHOWROOM
John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
