On October 16, Lithium Americas announced a new investment agreement with General Motors (GM).
According to the agreement, the two parties will form a joint venture to oversee the construction and operation of the Thacker Pass lithium mine in Nevada. GM will invest $625 million (US), including $430 million in cash (with $330 million to be contributed on the day of closing and $100 million at the final investment decision during a specific project phase) and $195 million in credit financing, to acquire a 38% asset-level ownership of the project and support the first phase of construction.
Additionally, GM has signed a 20-year off-take agreement, committing to purchase up to 38% of Thacker Pass’s production in the second phase, along with a preemptive right on the remaining output.
This investment replaces the $330 million common stock investment initially promised by GM under a previously announced investment agreement.
Source: WeChat Official Account—马里亚纳锂电
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