The Trump administration is reportedly seeking a 10% stake in the Thacker Pass lithium project in Nevada, operated by Lithium Americas (LAC).
The project, a flagship lithium mine for the company, had previously secured a $2.26 billion government loan under the Biden administration to advance production.
Reports of the potential federal stake sent Lithium Americas’ shares up by as much as 80% in after-hours trading. The company confirmed it is “in discussions” with the Department of Energy, which issued the loan, and General Motors, a 38% stakeholder in the project, regarding conditions for the first draw of the loan.
The discussions reportedly cover potential amendments, incremental conditions, and associated considerations for the loan.
The Thacker Pass project, designed to supply lithium for electric vehicle batteries, has attracted government attention due to its strategic importance for the U.S. energy transition. The move would represent another instance of the federal government taking direct equity stakes in private companies, citing national security considerations.
