The Trump administration is pushing for up to a 10% equity stake in Lithium Americas as it renegotiates terms of a $2.26 billion Energy Department loan for the company’s Thacker Pass lithium project in Nevada, according to Reuters.
The project, partnered with General Motors, is expected to become the Western Hemisphere’s largest lithium source when it opens in 2028. Lithium Americas had planned to draw on the loan this month, but officials raised concerns over repayment risks tied to low lithium prices caused by Chinese overproduction.
Administration negotiators are seeking government-held shares, no-cost warrants, and stronger purchase guarantees from GM, which already owns 38% of the mine. They are also pressing for Washington to assume more direct control over parts of the project.
Shares of Lithium Americas jumped nearly 80% after the news. Trump officials say the stake ensures fairness to taxpayers while supporting U.S. efforts to secure critical minerals and reduce reliance on China, which dominates global refining.
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