According to Reuters, on October 28, the US Department of Energy finally finalized a loan of 2.26 billion US dollars to fund lithium miners Lithium Americas to build the THACKER PASS Lithium Mining Project in Nevada. This is the US government conducted in the mining field.
One of the biggest investments is also part of the widespread efforts to promote key mineral production.
The loan has been temporarily approved by the US government in March this year. It is a key part of US President Joe Biden’s reduction in China (the world’s largest electric vehicle battery metal processing country) lithium supply chain dependence plan. In addition, US government officials also approved similar lithium mine projects developed by lithium miners last week.
The THACKER PASS Lithium Mining Project is expected to be put into production in 2030 and will become the main lithium supplier of General Motors. Earlier this month, GM has increased its investment in the Thacker Pass lithium mine project to nearly $ 1 billion.
ALI Zaidi, a national climate consultant, said: “The US government realized that it is important to win in the global clean energy competition.”
Donald Trump, former President of the United States, approved the THACKER PASS Lithium Mining Project before his steps down. After winning a long -term complex lawsuit filed by environmentalists, ranch owners, and Aboriginal communities, the THACKER PASS Lithium Mining Project has begun preliminary construction last year. The Thacker Pass is located not far south of the junction of Nevada and Oregon.
Because the loan has been implemented, Lithium American plans to start the main project construction of the Thacker Pass lithium mine project. This process may take three years or longer. The first stage of the THACKER PASS mine is expected to produce 40,000 tons of battery -class lithium carbonate each year, which is enough to meet the needs of up to 800,000 electric vehicles.
The THACKER PASS Lithium Mining Project is expected to hire about 1,800 people during construction, and the mine is expected to provide 360 full -time jobs after it is put into operation. The term of this loan approved by the United States is 24 years, and the interest rate will be determined based on the US Treasury interest rate of U.S. Treasury bonds at the time of each payment.
Lithium American CEO Jon Evans said: “This crucial loan will help us reduce dependence on foreign suppliers and ensure the future of US energy.”
However, due to the increase in engineering costs, coupled with Lithium Americas agreed to use union labor, and the company decided to build housing facilities for workers and their families in remote areas, the cost of the Thacker Pass mine has increased from the previously estimated US $ 2.27 billion to approach $ 2.93 billion.