Lithium Americas eyes $275M for U.S. investment

Lithium Americas is developing its U.S. operations. Photo by Lithium Americas

Funds for growth Vancouver-based miner Lithium Americas has unveiled a public offering to collect some US$275 million.


Under the plan, the Canadian company is to “use the net proceeds of the Offering for advancing the construction and development of its Thacker Pass lithium project in Humboldt County, Nevada,” Lithium Americas said in a statement.


In March 2024, the miner achieved a major milestone for Thacker Pass by obtaining a conditional commitment from the U.S. Department of Energy under the Advanced Technology Vehicles Manufacturing Loan Program … for a $1.97 billion loan in aggregate principal, according to the statement.


These funds will be used “to fund eligible construction costs of the processing facilities at Thacker Pass, targeting to produce an initial 40,000 tonnes per year of battery grade lithium carbonate … plus interest to be accrued during construction, which is estimated to be $290 million over a three-year period, together totaling a $2.26 billion loan,” the firm said.