On October 2, 2025, Lithium Americas Corp. announced a non‑binding agreement with the U.S. Department of Energy to advance the first draw of $435 million on its $2.26 billion DOE loan, a key financing milestone for the Thacker Pass project.
The agreement confirms that the loan principal remains $1.97 billion, with capitalized interest projected at $256 million, and that the DOE will hold a 5% equity stake in Lithium Americas and a 5% stake in the joint venture with General Motors. The first draw will fund construction and development costs for Phase 1 of Thacker Pass.
This financing move defers $182 million of debt service over five years, providing a critical cash infusion that accelerates the path to mechanical completion—expected in late 2027—and signals continued U.S. government support for domestic lithium production.
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