North America’s largest lithium mine is full steam ahead – it just got a $2.26B loan
Great news for EVs: Lithium Nevada got the green light for a $2.26 billion loan from the US Department of Energy to finance a lithium carbonate processing plant.
Once the Thacker Pass mine and processing plant in Humboldt County are online, they will become North America’s largest source of lithium for EV batteries.
The Thacker Pass processing plant will produce around 40,000 tonnes of lithium carbonate annually for the use of EV lithium-ion batteries. That’s enough for up to 800,000 EVs. The project’s goal is to eventually produce 80,000 metric tons per year.
Construction at the Thacker Pass mine site started in March 2023 after Lithium Nevada won a court case against ranchers, conservationists, and Indigenous communities. Once the loan closes, a three-year-long construction process will start.
If finalized, the loan will be offered through the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program.
The massive project is expected to create around 1,800 jobs during construction and 360 jobs in operations.
General Motors is expected to be a long-term primary lithium carbonate buyer for the project. The automaker invested $650 million in Thacker Pass in 2023, making it the largest shareholder in Lithium Nevada’s parent company, Lithium Americas.
The DOE’s Loan Programs Office says in its Thacker Pass loan announcement that “developing this project will strengthen domestic battery supply chains and reduce reliance on unreliable foreign sources.”
The mine and processing plant are expected to be fully online in 2028.
Read more: Harvard develops a solid state battery that charges in minutes
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here. –ad*
FTC: We use income earning auto affiliate links. More.
Great news for EVs: Lithium Nevada got the green light for a $2.26 billion loan from the US Department of Energy to finance a lithium carbonate processing plant.
Once the Thacker Pass mine and processing plant in Humboldt County are online, they will become North America’s largest source of lithium for EV batteries.
The Thacker Pass processing plant will produce around 40,000 tonnes of lithium carbonate annually for the use of EV lithium-ion batteries. That’s enough for up to 800,000 EVs. The project’s goal is to eventually produce 80,000 metric tons per year.
Construction at the Thacker Pass mine site started in March 2023 after Lithium Nevada won a court case against ranchers, conservationists, and Indigenous communities. Once the loan closes, a three-year-long construction process will start.
If finalized, the loan will be offered through the Advanced Technology Vehicles Manufacturing (ATVM) Loan Program.
The massive project is expected to create around 1,800 jobs during construction and 360 jobs in operations.
General Motors is expected to be a long-term primary lithium carbonate buyer for the project. The automaker invested $650 million in Thacker Pass in 2023, making it the largest shareholder in Lithium Nevada’s parent company, Lithium Americas.
The DOE’s Loan Programs Office says in its Thacker Pass loan announcement that “developing this project will strengthen domestic battery supply chains and reduce reliance on unreliable foreign sources.”
The mine and processing plant are expected to be fully online in 2028.
Read more: Harvard develops a solid state battery that charges in minutes
If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here. –ad*
FTC: We use income earning auto affiliate links. More.
Denial of responsibility! Techno Blender is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.