"US Government Grants $2.3 Billion Loan to Expand North America's Lithium Production"
TL;DR
The US Department of Energy has approved a $2.26 billion loan for Lithium Nevada to finance a lithium carbonate processing plant at the Thacker Pass mine in Nevada, which will become North America's largest source of lithium for EV batteries. The plant aims to produce 40,000 tonnes of lithium carbonate annually, with construction expected to start in 2023 and completion slated for 2028. The project is anticipated to create jobs and reduce reliance on foreign sources for battery supply chains. General Motors is set to be a primary buyer, and the loan will be offered through the Advanced Technology Vehicles Manufacturing Loan Program.
Topics:businessbusinesstechnology#businesstechnology#evs#general-motors#lithium-mining#thacker-pass#us-department-of-energy
- North America's largest lithium mine is full steam ahead – it just got a $2.26B loan Electrek
- America's Slowing Electric-Vehicle Push Gets a Big Boost With Nevada Lithium Mine Funding - WSJ The Wall Street Journal
- Energy Department Offers $2.3 Billion Loan to Boost Lithium Production The New York Times
- Lithium Americas Boosts U.S. Lithium Production TipRanks
- US to lend Lithium Americas $2.26 bln for Nevada's Thacker Pass mine Reuters
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