Name of the Project
Thacker Pass lithium project.

Location
Humboldt County, Nevada, in the US.

Project Owner/s
North American lithium company Lithium Americas Corp (LAC).

Project Description
LAC aims to extract lithium at Thacker Pass from a large clay deposit, something that has never been done before at commercial scale.

The project is targeting 80 000 t/y of battery-quality lithium carbonate production capacity in two phases of 40 000 t/y each.

Thacker Pass will have a mine life of 40 years.

The mine is slated to be a key supplier to General Motors.

Potential Job Creation
The project is expected to create 1 000 jobs during construction and 500 jobs during operations.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% discount rate, of $4.95-billion and an internal rate of return of 21.2%.

Capital Expenditure
The mine's cost had been increased from a previous estimate of $2.27-billion to nearly $2.93-billion, as a result of higher engineering costs, an agreement to use union labour and the company's decision to build a housing facility for workers and their families in the remote region.

Planned Start/End Date
Mechanical completion of Thacker Pass Phase 1 is targeted for 2027, following a three-year construction period. The company expects a commissioning and ramp-up period of six to 12 months, targeting full capacity production in 2028.

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

Energy Secretary Chris Wright has said that the new terms will 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 Thacker Pass.

“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," Wright has indicated.

The revised agreement includes loan amendments, more than $100-million in new equity and an expanded collateral package. The DoE said on October 1 that warrants had been used in previous loan deals, including its 2010 support to Tesla, and were designed to reduce repayment risk for taxpayers.

GM invested $625-million in the project in 2024 for a 38% stake and secured rights to buy all lithium from the first phase, and part of the second phase, 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.

Key Contracts, Suppliers and Consultants
Aquatech International (magnesium sulphate and lithium carbonate chemical plants); Bechtel Corporation (engineering, procurement and construction management); EXP Global Inc (engineering, procurement, construction support, commissioning and startup services for the sulphuric acid plant).

Contact Details for Project Information
Lithium Americas Corp, email info@lithiumamericas.com.