"Record $2.26 Billion Loan Secured for Nevada Lithium Plant Boosting U.S. Production"

The U.S. Department of Energy has approved a record $2.26-billion loan to support Lithium Americas Corp. in developing a Nevada lithium deposit, which is the largest in the country. This funding will primarily finance the construction of a lithium carbonate processing plant adjacent to the company's Thacker Pass mine, a significant opportunity for domestic production of the metal crucial for electric-vehicle batteries, solar panels, and wind turbines. The loan, the largest ever to a mining company from the DOE's Loan Programs Office, reflects efforts to bolster domestic supplies of critical minerals and reduce reliance on foreign sources, particularly China.