Lithium Americas announced this Monday that it has finalized its joint venture with the American company General Motors to develop the Thacker Pass lithium mine in Nevada, USA.
The CEO of Lithium Americas, Jonathan Evans, confirmed to Reuters that the company is expected to make a final decision on the investment for this new project in early 2025.
Under the agreement between the two parties, the joint venture, first announced in October, will see GM contribute $625 million to the project in exchange for a 38% stake in Thacker Pass.
This newly announced agreement will provide a boost to Lithium Americas, just a few months after the US confirmed a $2.26 billion loan for the Nevada project.
Although the loan was granted during the Biden administration, the elected president of the US, Donald Trump, approved lithium exploration during his first term as president.
The new Thacker Pass lithium mine is expected to produce 40,000 metric tons of battery-quality lithium carbonate per year in its first phase of operation, enough to supply the production of 800,000 electric vehicles.
