March 14 (Reuters) - The U.S. Department of Energy has
granted Lithium Americas ( LAC ) a conditional commitment loan
of $2.26 billion to finance the construction of processing
facilities at its Thacker Pass project in Nevada, the company
said on Thursday.
Once the loan is closed, the company expects to start major
construction in the second half of this year at the project,
which has the potential to be North America's largest source of
lithium for electric vehicle batteries.
The project is expected to start full-capacity production in
2028. It is targeting a production capacity of 80,000 tonnes per
annum of battery-quality lithium carbonate.
Lithium Americas' ( LAC ) U.S.-listed shares rose 7.3% to $6.15 in
premarket trading.