Vancouver-based lithium miner Lithium Americas saw its share price soar more than 22 per cent on Wednesday thanks to automotive giant General Motors announcing plans to invest US$625 million in cash and credit to buy a stake in a Lithium Americas mine in Nevada.
The agreement enables GM to acquire a 38-per-cent stake in the Thacker Pass lithium carbonate mining operation in Nevada. The new money includes US$430 million in cash to build Phase 1 of the mine, as well as US$195 million in credit. Initial construction at the site launched in March 2023, following a court case and protests from conservationists, ranchers and First Nation communities.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: