https://newsletter.mw.creamermedia.com
Energy|Motors|PROJECT
Energy|Motors|PROJECT
energy|motors|project

DoE restructures Lithium Americas deal, secures equity stake in Thacker Pass project

Energy Secretary Chris Wright

Energy Secretary Chris Wright

1st October 2025

By: Mariaan Webb

Creamer Media Senior Deputy Editor Online

     

Font size: - +

The US Department of Energy (DoE) has restructured its $2.26-billion loan deal with Lithium Americas Corp (LAC), securing equity stakes designed to better protect taxpayers and strengthen domestic supply of critical minerals.

Energy Secretary Chris Wright said on Tuesday that the new terms would give the government 5% ownership in LAC through warrants, along with an additional 5% stake in the company’s joint venture with General Motors (GM) at the Thacker Pass lithium project in Nevada.

“Despite having some of the largest deposits, the United States produces less than 1% percent of the global supply of lithium. Thanks to President Trump’s bold leadership, American lithium production is going to skyrocket,” said Wright. “Today’s announcement helps reduce our dependence on foreign adversaries for critical minerals by strengthening domestic supply chains and ensures better stewardship of American taxpayer dollars."

The revised agreement includes loan amendments, more than $100-million in new equity, and an expanded collateral package. DoE said warrants had been used in previous loan deals, including its 2010 support to Tesla, and were designed to reduce repayment risk for taxpayers.

Located in Nevada, Thacker Pass hosts the largest confirmed lithium deposit in North America. Once operational, it is expected to produce about 40 000 t/y of battery-grade lithium carbonate, enough to supply up to 800 000 electric vehicles.

GM invested $625-million in the project last year for a 38% stake and secured rights to buy all lithium from the first phase and part of the second for 20 years. Under the new arrangement, Washington opted for equity stakes after pushing back on GM’s request to avoid an unconditional offtake guarantee regardless of market conditions.

Currently, the US produces less than 5 000 t/y of lithium at Albemarle’s Silver Peak facility in Nevada, a fraction of global output led by Australia, Chile and China.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

To advertise email advertising@creamermedia.co.za or click here

Latest News

Sylvania CEO Jaco Prinsloo
Higher output, prices give Sylvania's Ebitda a boost
30th October 2025 By: Creamer Media Reporter

Showroom

Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 
John Thompson
John Thompson

John Thompson, the leader in energy and environmental solutions through value engineering and innovation, provides the following: design, engineer,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 31 October 2025
Magazine round up | 31 October 2025
Updated 3 hours ago

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?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.143 0.41s - 144pq - 2rq
Subscribe Now