U.S. government takes stake in Canadian lithium miner and its Nevada mining project

The U.S. Department of Energy (DOE) has secured a 5% equity stake in Canadian lithium miner Lithium Americas and a 5% stake in its Nevada mining joint venture with General Motors (GM) through a renegotiation of a federal loan. These stakes are acquired via no-cost warrants, serving as additional collateral to reduce taxpayer repayment risk. Lithium Americas is developing the Thacker Pass mine in Nevada, a project approved by President Trump in January 2021, which is expected to produce enough lithium to supply batteries for up to 800,000 electric vehicles annually in its first phase. GM holds a 38% stake in Lithium Americas, acquired last year for $625 million, granting it rights to lithium production sufficient for 1.6 million EVs over 20 years. This move aligns with the Trump administration’s broader strategy to strengthen domestic critical mineral supply chains and reduce dependence on foreign sources. U.S. Energy Secretary Chris Wright emphasized that despite the U.S. having large lithium