Sept 30 (Reuters) – The U.S. Department of Energy will take a 5% stake in Lithium Americas (LAC.TO), opens new tab and a separate 5% stake in the company’s Thacker Pass lithium mine joint venture with General Motors (GM.N), opens new tab, according to a source familiar with negotiations.
Reuters reported last week, opens new tab that Trump administration officials were in discussions with Lithium Americas about an equity stake in the company as they renegotiated terms of a $2.26 billion government loan for the mine, slated to become the largest source of the battery metal lithium in the Western Hemisphere.
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Reporting by Ernest Scheyder; Editing by Chris Reese
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Ernest Scheyder is a senior correspondent covering critical minerals and the global energy transition, as well as the author of “The War Below: Lithium, Copper, and the Global Battle to Power our Lives,” which was longlisted for the 2024 National Book Award and was named the American Energy Society’s Energy Book of the Year. He previously wrote about the U.S. shale revolution – drawing on a two-year stint based in oil-rich North Dakota – as well as politics and the environment. A native of Maine, Scheyder is a graduate of the University of Maine – where he was named a distinguished alumnus in 2021 – and Columbia Journalism School.