The Canadian capital company, Lithium Americas, has announced that it has signed a purchase agreement with the automotive giant General Motors. As part of the transaction, GM will invest US$650 million in the company, which has three advanced lithium projects around the world, two of which are located in Argentina and the rest in Nevada, United States.
By Mining Panorama
As noted, this is the largest investment ever by an automaker to produce battery feedstock, paving the way for General Motors to become Lithium Americas’ largest shareholder.
To this end, Lithium Americas (LAC) will receive a US$650 million capital investment from GM which will be divided into two tranches: first, a US$320 million investment in common stock representing 9.999% of Lithium Americas and, second, a contemplated US$330 million investment to bolster the company’s US operations “following the separation of its US and Argentine operations”, previously announced by LAC. Thus, Lithium Americas will supply GM with the production of lithium carbonate from phase 1 of the Thacker Pass lithium project, located in Nevada. Going forward, LAC plans to progress the Thacker Pass construction plan with a target of 80,000 tonnes per annum (tpa) of battery-grade lithium carbonate (“Li2CO3”) production capacity, split into two phases of 40,000 tpa respectively. I know
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