08:07 AM EDT, 03/14/2024 (MT Newswires) -- Lithium Americas ( LAC ) shares surged nearly 18% in premarket activity Thursday after the US Department of Energy granted a conditional commitment for a $2.26 billion loan to finance the construction of processing facilities at the Thacker Pass lithium project in Nevada.

The company said the loan will have fixed interest rates from the date of each monthly advance and includes interest of approximately $290 million over three years.

The loan was granted under the Energy Department's Advanced Technology Vehicles Manufacturing loan program.

Price: 6.75, Change: +1.02, Percent Change: +17.8