The final investment of $ 250 million needed to proceed with the lithium project of about $ 3 billion Thacker Pass north of Nevada has been acquired, according to the Lithium American project developer.
The funding, provided by Orion Resource Partners, based in New York, will pay the first phase to develop what would be the highest lithium processing and processing installation in North America. Last year, Vancouver, based in Canada
Lithium americas and General Motors announced a joint business agreement to develop the project by providing a separate 100 million dollars
and 192 million dollars in cash, respectively.
The project also received funding in October 2024 through a $ 2.26 million loan from the United States Department of Energy (DOE) to help in construction of funding. The current investment announced on April 1 ends the Doe Loan Requirements, said Lithium American.
In its first phase, the Thacker Pass Mine is expected to produce 40,000 metric tonnes of battery quality lithium carbonate annually –
Enough to feed up to 800,000 electric vehicles.
“Thacker Pass will help allow a completely domestic supply chain for electric vehicle batteries, from mining to chemical processing to battery production,” said Ailie Macadam, President of the Bechtel Mine and Metal Business, in a statement. “Having a reliable domestic supply of lithium will be essential for the economic competitiveness and energy safety of the United States.
Once the construction of the initial phase is completed by the end of 2027, Thacker Pass is expected to produce one hand eight times the total lithium carbonate carbonate production, according to Lithium America. A second expected phase of the project is expected to produce additional 40,000 metric tonnes of lithium carbonate annually and turn the project into the largest lithium mine in North America, says the company.
Lithium demand is expected to grow in the coming years, as it is a critical component for electric vehicle batteries. And if EV manufacturers meet the requirements of the percentage of components used and prosecuted in the United States, they can benefit from the tax credits of the Inflation Reduction Act.
The Thacker Pass project consists of an open pit mine and lithium processing operations in an area north of Winnemucca, snowfall Humboldt County. Lithium americas has a joint property with the Motors General Automobile Manufacturer.
Bechtel, the construction manager, began the project’s pre-construction work in November 2022. The company said that early works such as hiring and engineering are complete, including the order of long lead equipment and classification and excavation of places.
The Thatcher Pass project began in 2018, but stopped when environmental groups sued the United States Management Office in 2021. Groups argued that the agency could not properly address the accumulated environmental impacts of the project on the approval of permits on the days of the Trump First Administration.
There were also allegations that the agency did not consult adequately with North -American native tribes in the area that considered the mine to be sacred.
A Federal San Francisco Appeal Court in 2023 rejected these claims, saying that the final environmental impact statement of the land management office was satisfactory under the law. The court also said that the agency had consulted properly with tribes, which “did not” have no problem in specific traditional areas, sacred places or ceremonial areas or activities in the project area “.
