Lithium Americas
 | |
| Company type | Public |
|---|---|
| Industry | Mining |
| Founded | October 3, 2023 |
| Headquarters | , Canada |
Key people | Kelvin Dushnisky (Chairman) Jonathan Evans (President and CEO) Pablo Mercado (CFO) |
| Revenue | -$3.90 million (loss) (2023) -$67.79 million (loss) (2022) -$47.02 million (loss) (2021) |
| Total assets |  $439.5 million (2023) |
| Website | www |
Lithium Americas Corp. is a Canadian mining corporation. It is currently developing the Thacker Pass Lithium Mine in northern Nevada.
History
[edit]The first incarnation of Lithium Americas Corp. was founded in the summer of 2009, and was a spin-off of Argentinian lithium operations in Caucharí-Olaroz owned by Latin American Minerals Inc and Grupo Minero Los Boros, an Argentinean borax producer.[1][2]
In September 2015, Lithium Americas merged into another Canadian junior mining company, the Western Lithium USA Corporation.[3][4] The Western Lithium USA Corporation was founded in 2008 as a spinoff of Western Uranium's lithium project in the King Valley (now known as Thacker Pass).[5] Post-merger, on March 22, 2016, Western Lithium announced it would rename itself to the Lithium Americas Corp.[6]
The current incarnation of Lithium Americas Corp. was created on October 3, 2023 after the close of trading from the separation between the previous Lithium Americas and its South American operations, now also a separate entity, Lithium Americas (Argentina) Corp.[7][8]
The primary project of Lithium Americas is the development of a lithium mining operation near Thacker Pass in northern Nevada. On January 15, 2021, the American Bureau of Land Management issued a Record of Decision approving the Thacker Pass Lithium Mine.[9] On January 31, 2023, General Motors announced a $650 million investment into Lithium Americas, with GM gaining full access to the first phase of lithium production.[10] Initial construction on the project began in March 2023, with production of the mine beginning in 2026, and full production expected in 2027.[11] On March 14, 2024, the Biden administration announced a $2.26 billion loan for the construction of the Thacker Pass mine.[12]
In October 2024 Lithium Americas announced a substantial investment increase from General Motors, bringing GM’s total commitment to the Canadian mining company to $945 million—up from $650 million. The agreement forms a joint venture between GM and Lithium Americas to develop the Thacker Pass mine in Nevada, the largest known lithium deposit in the U.S. This investment is expected to support increased lithium production.[13]
References
[edit]- ^ "Magna buys stake in small lithium miner". The Globe and Mail. January 7, 2010. Retrieved April 12, 2024.
- ^ "Latin American Minerals spins out lithium project". The Northern Miner. June 11, 2009. Retrieved April 12, 2024.
- ^ Keevil, Matthew (July 15, 2015). "Western Lithium, Lithium Americas eye strategic merger". The Northern Miner. Archived from the original on August 11, 2020. Retrieved April 12, 2024.
- ^ "Western Lithium and Lithium Americas Announce Completion of Merger". Lithium Argentina. Retrieved April 12, 2024.
- ^ "Western Uranium counts down lithium spinoff". The Northern Miner. April 21, 2008. Retrieved April 12, 2024.
- ^ "Western Lithium Announces Name Change to Lithium Americas and Provides Corporate Update" (PDF). March 22, 2016. Archived from the original (PDF) on April 18, 2016.
- ^ Lithium Americas, Investor Overview
- ^ Dixon, Ted (October 26, 2023). "Lithium Americas insiders buy as stock slides". The Globe and Mail. Retrieved April 12, 2024.
- ^ Humboldt River Field Office issues a Record of Decision for the Thacker Pass Lithium Mine, Bureau of Land Management, January 15, 2021, retrieved March 16, 2021
- ^ Clifford, Catherine (January 31, 2023). "GM to invest $650 million in a lithium company to support its electric vehicle business". CNBC. Retrieved April 12, 2024.
- ^ Burmeister, Tim (March 6, 2024). "An exciting time at Thacker Pass". Elko Daily Free Press. Retrieved April 12, 2024.
- ^ Scheyder, Ernest (March 14, 2024). "US government to lend Lithium Americas $2.26 bln for Nevada's Thacker Pass mine". Reuters. Retrieved April 12, 2024.
- ^ Hodgson, Camilla (October 16, 2024). "General Motors increases investment in lithium mine to nearly $1bn". Financial Times. Retrieved November 7, 2024.