Lithium Americas Corporation【LAC】株式ニュース

LAC...$5.07s clearing here off my $4.50...Alert...🥳

georgie18

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Monday, October 28, 2024 5:55:00 PM

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LAC...$4.50...Beauty News...🥳October 28, 2024 04:34 PM Eastern Daylight Time
VANCOUVER, British Columbia--(BUSINESS WIRE)--Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas” or the “Company”) is pleased to announce the closing of a $2.26 billion loan from the U.S. Department of Energy’s (“DOE”) Loan Programs Office (“LPO”) under the Advanced Technology Vehicles Manufacturing (“ATVM”) Loan Program (the “DOE Loan”) for financing the construction of the processing facilities at Thacker Pass, located in Humboldt County, Nevada (“Thacker Pass” or the “Project”).

HIGHLIGHTS

The DOE Loan for $2.26 billion will have interest rates fixed from the date of each monthly advance for the term of the loan at applicable U.S. Treasury rates. The DOE Loan amount includes funding of interest accrued during construction.
The DOE Loan will help finance the construction of Thacker Pass, targeted to produce an initial 40,000 tonnes per annum (“tpa”) of battery-quality lithium carbonate (“Phase 1”). The Company is targeting to make the final investment decision (“FID”) and issue full notice to proceed (“FNTP”) by the end of the year.
Thacker Pass Phase 1 is expected to create approximately 1,800 direct jobs during its three-year construction period and approximately 360 full time jobs during operations for its 40-year mine life.
Thacker Pass supports the U.S. government’s commitment to securing a domestic supply chain for critical minerals to reduce reliance on foreign materials.
The DOE Loan will be supplemented by the investment agreement (“Investment Agreement”) announced on October 16, 2024 with General Motors Holdings LLC (“GM”) to establish a joint venture (“JV”) for the purpose of funding, developing, constructing and operating (“JV Transaction”) Thacker Pass. Under the terms of the Investment Agreement, GM will acquire a 38% asset-level ownership stake in Thacker Pass for $625 million in total cash and letters of credit, including a $195 million letter of credit facility (“LC Facility”) that can be used as collateral to support reserve account requirements under the DOE Loan.
“We’re pleased to have the Department of Energy’s support to advance Thacker Pass to production and significantly improve domestic output of critical lithium supply to meet the growing domestic need,” said Jonathan Evans, President and Chief Executive Officer of Lithium Americas. “This essential loan helps us reduce dependence on foreign suppliers and secure America’s energy future.”

Mr. Evans added, “We have substantially de-risked project financing for Phase 1 and continue to work closely with General Motors following our announcement of the asset-level joint venture. We deeply appreciate the U.S. government’s support as we develop Thacker Pass to become North America’s largest lithium operator and continue collaborating with all our stakeholders to bring shared success for our company, local communities and our country.”

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