Thacker Pass

Operator

Lithium Americas

Commodity

Lithium

Location

Nevada, USA

Asset Stage

Development

  • Thacker Pass is a lithium clay project located in northern Nevada, currently fully owned and operated by Lithium Americas(1)
  • Construction of Thacker Pass will be undertaken in two phases with Phase 1 targeting production of 40ktpa of lithium carbonate followed by a Phase 2 expansion expected to increase production to 80ktpa
  • Phase 1 construction capital cost is expected to be funded through Lithium Americas strategic relationship with GM who have contributed US$320 million in equity alongside the recently announced US$625 million investment in Thacker Pass. Further funding is intended to be provided by the US Department of Energy loan program which has provided conditional approval for a US$ 2.3 billlion loan
  • Detailed engineering is advancing with full notice to proceed (FNTP) expected to be issued by the end of 2024
  • First production is expected in 2027
Asset Overview
OperatorLithium Americas (LAC)
Mine TypeOpen Pit
Asset StageDevelopment (construction)
CommoditiesLithium
LocationNevada, USA
Reserves(2)217.3Mt @ 0.32% Li
Resources(2)1.52Bt @ 0.19% Li
Royalty Overview
Key Terms
  • 60% interest in a Gross Revenue Royalty (GRR).
  • 4.8% GRR reducing to 2.4% after $13.2m royalty payments received (60% attributable basis), subject to buy back rights (outlined below).
  • Right to reduce royalty to 1.05% (60% attributable basis) if LAC elect buy-back by paying US$13.2m (net to Deterra).

Notes:

  1. Per Lithium Americas announcement dated 16th October 2024, LAC has entered into an agreement with General Motors to enter a joint venture agreement which sees GM become a 38% owner of Thacker Pass in exchange for $625m in cash and letters of credit. Completion is expected by 28 February 2025.
  2. S-K 1300 December 2023 as reported in Lithium Americas August 2024 Corporate Presentation.

Major construction is expected to run from 2024 until 2027 when first production is expected to commence

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