Massive new North American lithium mine closer to reality with GM investment in Lithium Americas – by Niall McGee (Globe and Mail – January 31, 2023)

Lithium Americas Corp. has landed a US$650-million financing with General Motors Co. that moves the Canadian lithium company closer to breaking ground on a massive lithium mine that should help alleviate a North American shortfall for the key battery metal.

Detroit-based GM is set to become the largest shareholder in Lithium Americas, with a stake of just under 10 per cent, and it will also be entitled to exclusive supplies of the lithium carbonate produced during the first 10 years of the mine’s operation.

The equity financing, the biggest by a car company into a lithium miner, is contingent on Vancouver-based Lithium Americas winning legal approval to build its mine in Nevada.

Thacker Pass is projected to be the biggest lithium mine in the United States once it is built in 2026, and it should significantly help fill the need for North America-sourced lithium. Currently there is only one small lithium mine in the U.S. and the only lithium mine in Canada is owned by a Chinese company.

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