Lithium Americas has been granted a conditional commitment for a $2.26 billion loan by the U.S. Department of Energy (DOE) under the Advanced Technology Vehicles Manufacturing loan program. This funding is earmarked for the construction of the processing facilities at Thacker Pass, located in Humboldt County, Nevada.
The loan, featuring interest rates pegged to the U.S. Treasury rates from the time of each disbursement, encompasses interest accrued during the estimated three-year construction phase, totaling approximately $290 million. This financial support is pivotal for the initiation of Thacker Pass’s first phase, aiming to annually produce 40,000 tonnes of battery-grade lithium carbonate.
Projected to generate about 1,800 direct jobs throughout its three-year construction and an additional 360 operational positions over its 40-year lifespan, Thacker Pass is a significant employment driver. An economic impact study by the University of Nevada, Reno suggests that each direct job from the project will create 1.5 additional local jobs during the construction phase.
A partnership with Bechtel for engineering, procurement, and construction management and a National Construction Agreement with North America’s Building Trades Unions underscore Lithium Americas’ commitment to labor and sustainable project development. The company is dedicated to minimizing environmental impacts and engaging closely with local communities.
Thacker Pass is a strategic asset in the U.S. government’s efforts to establish a secure domestic supply chain for critical minerals, potentially supporting lithium requirements for up to 800,000 electric vehicles each year. Jonathan Evans, President and CEO of Lithium Americas, highlighted the project’s role in advancing U.S. leadership in global electrification and enhancing national security by meeting the domestic demand for lithium. 
