• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Stock

Lithium Americas and GM close joint venture for Thacker Pass mine

by December 23, 2024
written by December 23, 2024

(Reuters) – Lithium Americas (NYSE:LAC) said on Monday it has closed its joint venture with U.S. automaker General Motors (NYSE:GM) to develop the Thacker Pass lithium mine in Nevada.

The miner’s CEO, Jonathan Evans said that the company is expected to make a final investment decision on the project in early 2025.

Under the JV agreement, first announced in October, GM would contribute $625 million to the project to gain a 38% stake in Thacker Pass in the form of cash and a credit facility.

The deal’s closing provides another boost for the giant lithium mine, months after the U.S. finalized a $2.26 billion loan for the Nevada project.

Though the loan was granted under the Biden Administration, the U.S. President-elect Donald Trump had approved the mine during his previous term.

Thacker Pass, slated to open later this decade, is expected to produce 40,000 metric tons of battery-quality lithium carbonate per year in its first phase, enough for up to 800,000 electric vehicles.

This post appeared first on investing.com
0 comment
0
FacebookTwitterPinterestEmail

previous post
Xerox plans to acquire Lexmark International for $1.5 billion
next post
Canada’s Trudeau faces increasing pressure from his own MPs to quit

You may also like

BASF results down on impairments, restructuring

January 27, 2025

European chipmakers slump as traders gauge DeepSeek AI...

January 27, 2025

Nasdaq futures tumble as China’s AI push rattles...

January 27, 2025

China Vanke’s CEO, chairman resign amid growing liquidity...

January 27, 2025

Fuji Media, rocked by sexual misconduct allegations, says...

January 27, 2025

Italy’s MPS shares fall ahead of Mediobanca board...

January 27, 2025

British Land stock drops following stake sale

January 27, 2025

UMG shares rally after new multi-year pact with...

January 27, 2025

BASF shares indicated 3% lower as impairments drag...

January 27, 2025

Ryanair cuts 2026 traffic forecast amid ongoing Boeing...

January 27, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 6, 2025
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

      June 5, 2025
    • This California startup is cleaning water and removing CO₂ from the atmosphere — all at a reduced cost

      June 5, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (504)
    • Stock (6,426)

    Latest News

    • Procter & Gamble to cut 7,000 jobs as part of broader restructuring
    • Shein and Temu see U.S. demand plunge as loophole for cheap goods closes

    Popular News

    • Infosys Q3 earnings meet estimates, revenue tops expectations
    • India expects food inflation to slow in coming months, government report says

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy