Lithium Americas closes a $2.26bn US government loan for Thacker Pass

The US Department of Energy loan, made under its vehicle manufacturing programme, carries the long-dated Treasury rate with no spread and a 24-year tenor. It funds the first phase of the Nevada project, 40,000 tonnes a year of lithium carbonate. General Motors holds a 38% stake in the project for $625m in cash and letters of credit.

Why it matters. State lenders can offer terms no bank would, which changes the funding mix and the risk of a large project.

Source

Lithium Americas

In the course

Module 7: Funding a project