Lithium Americas has received a strategic investment of US$250 million from Orion Resource Partners for the development and construction of Phase 1 of the Thacker Pass lithium project in Humboldt County, Nevada.

In October 2024 Lithium Americas announced that it had closed on a US$2.26 billion loan from the Department of Energy for the Thacker Pass project, but some additional steps had to be taken before the first draw from the loan, including securing additional corporate working capital. With the investment coming from Orion Resource Partners, Lithium Americas expects to make the first draw from the DOE loan in the third quarter of this year.

The initial investment from Orion is expected to satisfy all the remaining requirements for Lithium Americas to receive the project funding.

The Thacker Pass Lithium Mine holds one of the largest known lithium deposits in the United States and the world.

Early construction started at Thacker Pass in February 2023. Joint venture partners Lithium Americas and General Motors are expected to announce a final investment decision soon.

In December, Lithium Americas announced the closing of its joint venture agreement with General Motors to fund, develop, construct, and operate Thacker Pass.

General Motors will make investments totalling US$945 million and has a 38% asset-level ownership stake in Thacker Pass. Lithium Americas has a 62% interest and is managing the project.  General Motors has an offtake agreement for up to 100% of the Phase 1 lithium produced at Thacker Pass.

Lithium Americas says the closing of the investment from Orion will bring Thacker Pass to a fully funded status, unlocking the DOE loan, leading to a final investment decision, which will unlock GM’s remaining US$100 million cash contribution to the project.

Construction of the mine, along with the first production of lithium, is targeted for the fourth quarter of 2027.