Canadian mining company ‘Lithium Americas’ announced on the 1st that it has made a final investment decision (FID) for the first phase of development of the Thacker Pass lithium mine in Nevada. The project aims to contribute to building a domestic lithium supply chain and reducing reliance on foreign sources of critical minerals.
Thacker Pass, the largest lithium deposit in North America, will require a total investment of $2.27 billion. Once the first phase is completed, the mine is expected to produce 40,000 tons of battery-grade lithium carbonate annually—enough to supply batteries for up to 800,000 electric vehicles. The first phase is targeted for completion by the end of 2027, with plans to later expand production to 80,000 tons per year. The mine is projected to have a lifespan of at least 40 years.
The project was approved in 2021 under the Trump administration. U.S. automaker General Motors (GM) invested $625 million last year, securing a 38% stake. Subsequently, Lithium Americas and GM established a joint venture, Lithium Nevada Ventures, to proceed with full-scale development.
Recently, Lithium Americas and GM contributed an additional $192 million and $100 million, respectively, finalizing funding for the first phase. The U.S. Department of Energy (DOE) also pledged government support, signing a $2.26 billion conditional loan agreement last year.
