News Formal

GM's new US$625M investment sends Lithium Americas stock up 22%

  • 📰 PGCitizen
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 51%

Singapore News News

Singapore Singapore Latest News,Singapore Singapore Headlines

GM's capital is set to help build a Nevada mine that would provide lithium that could be used to make electric-vehicle batteries

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:

 /  🏆 65. in SG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GM's new US$625M investment sends Lithium Americas stock up 22%GM's capital is set to help build a Nevada mine that would provide lithium that could be used to make electric-vehicle batteries
Source: BurnabyNOW_News - 🏆 14. / 77 Read more »