Lithium Americas Corp. (NYSE: LAC) shares are trading higher Thursday on continued strength following reports of a large investment from the U.S. government.
What To Know: Lithium Americas stock nearly doubled on Wednesday after reports suggested Trump administration officials are seeking an equity stake in the company as part of a renegotiation of a $2.26 billion loan for the Thacker Pass lithium project.
According to CNBC, the White House proposed the equity stake as Lithium Americas renegotiates the Department of Energy loan for its Thacker Pass mine in Nevada. The move is part of a national security strategy to bolster the U.S. domestic lithium supply chain.
Thacker Pass is expected to become one of the largest lithium sources in North America, with operations scheduled to begin in late 2027. The project is a joint venture between Lithium Americas, which holds a 62% stake and operates the mine, and General Motors, which owns 38% and has agreed to purchase future output.
Lithium Americas reportedly confirmed Wednesday that it is in talks with the Energy Department and GM regarding the loan. A deal has not been finalized, and Canadian approval may be required given the company's jurisdiction.
LAC Price Action: At the time of writing, Lithium Americas shares were up 15.04% at $6.91, according to data from Benzinga Pro.
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