Why Lithium Americas Stock Is Up Today
Portfolio Pulse from Erica Kollmann
Lithium Americas Corp. (NYSE:LAC) shares rose after announcing a conditional commitment from the U.S. Department of Energy for a $2.26 billion loan to finance construction at Thacker Pass, aimed at producing 40,000 tonnes per year of lithium carbonate. This financing is part of the Advanced Technology Vehicles Manufacturing loan program, supporting the U.S. in leading global electrification and strengthening battery supply chains.
March 14, 2024 | 4:16 pm
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Lithium Americas Corp. received a $2.26 billion loan commitment from the U.S. Department of Energy to finance the Thacker Pass project, which is expected to produce 40,000 tonnes of lithium carbonate annually.
The conditional commitment for a $2.26 billion loan from the U.S. Department of Energy is a significant financial milestone for Lithium Americas, directly impacting the company's ability to finance and advance the construction of the Thacker Pass project. This project is crucial for the company's growth and the U.S.'s lithium supply chain, likely leading to a positive short-term impact on LAC's stock price due to increased investor confidence in the project's viability and future revenue generation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100