Lithium Americas Provides Thacker Pass Project Update
Key Highlights
- ➤Thacker Pass Phase 1 capex estimate rises to $3.83 billion from $2.93 billion
- ➤Incremental funding requirement reaches approximately $995 million
- ➤Company targets $1.7-$2.0 billion in 2026 Thacker Pass capital expenditures
- ➤Funding expected from $650 million Company contributions and $315 million DOE reserves
- ➤Mechanical completion remains targeted for late 2027; commercial production ramps in 2028
Expert Statements
Jonathan Evans, President and Chief Executive Officer of Lithium Americas
“Thacker Pass is on track to deliver America's largest fully integrated source of domestic battery-quality lithium carbonate, and we are building it at pace. Phase 1 is advancing toward peak construction activity by year end 2026, with mechanical completion targeted for late 2027. Despite external and internal factors impacting the Project’s capital cost estimate, the anticipated capital cost for Thacker Pass are expected to remain funded as we continue to deliver on our execution plan and bring the Project safely into production. As construction advances to piping and electrical installation, we are building our Operations and Business Readiness team to support the transition from developer to operator.”
Jonathan Evans, President and Chief Executive Officer of Lithium Americas
“Lithium is a strategic asset, and Thacker Pass is the nation's clearest near-term path to a reliable domestic supply. As one of the largest construction projects in Nevada, the Project is already putting nearly 2,000 skilled craftspeople to work in Humboldt County, and that number is still growing. This Project will help anchor the supply chains driving American economic competitiveness and support growing demand from the lithium-ion battery markets for electric vehicles and energy stationary storage. Thacker Pass is essential to America's economic and national security, and we are committed to delivering it.”
Thacker Pass Phase 1 mechanical completion remains on track for late 2027, with ramp-up to commercial production expected in 2028. Updated capital cost estimate provided, with anticipated capital needs expected to be funded through available sources.
Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) (“Lithium Americas,” “LAC” or the “Company”) announced an update on its Thacker Pass lithium project in Humboldt County, Nevada (“Thacker Pass” or the “Project”). Mechanical completion of Thacker Pass Phase 1 construction is targeted for late 2027, with ramp-up through 2028. Once at full production capacity, Thacker Pass is expected to produce nominal 40,000 tonnes per year of battery-quality lithium carbonate.(1)
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