U.S. Backs $2.3 Billion Lithium Mine in Nevada to Boost Electric Vehicle Goals
• The U.S. Energy Department has conditionally approved a $2.26 billion loan to Lithium Americas to build a lithium mine and processing plant in Nevada.
• The Thacker Pass mine would be the largest U.S. lithium deposit and could produce enough lithium for 800,000 electric vehicle batteries per year.
• The loan aims to boost U.S. energy security and support the transition to electric vehicles as part of renewable energy goals.
• The mine has faced opposition from some environmental groups and Native American tribes over ecological and cultural concerns.
• Total estimated cost of the first phase of the mine has increased to $2.93 billion; mechanical completion is targeted for 2027 with full production in 2028.