March 14, 2024 ( Newswire) Mining Stock News Bites – Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) makes top gainers list on news, trading at $6.44, up 0.71 or 12.39% in US markets. The stock is trading at $8.73, up $1.03 for a 13.38% gain o the TSX .The stock had a day’s high of $10.30 on the TSX .

Lithium Americas provided a construction plan update for its Thacker Pass lithium project located in Humboldt County, Nevada (“Thacker Pass” or the “Project”).


Lithium Americas has received a conditional commitment (“Conditional Commitment”) from the U.S. Department of Energy (“DOE”) for a $2.26 billion loan under the Advanced Technology Vehicles Manufacturing (“ATVM”) Loan Program (the “Loan”) for financing the construction of the processing facilities at Thacker Pass, targeting to produce an initial 40,000 tonnes per year (“tpa”) of battery grade lithium carbonate (“Phase 1”). The expected Loan plus General Motors Holdings LLC (“GM”) strategic investment are expected to provide the vast majority of the capital necessary to fund Phase 1.

Site preparation for major earthworks has been completed, including all site clearing, commissioning a water supply system, site access improvements and site infrastructure.

The Company is currently focused on advancing detailed engineering, procurement and execution planning for the construction of Thacker Pass Phase 1. Detailed engineering is approximately 30% design complete to date, and the Company plans to continue to increase the level of detailed engineering in advance of issuing full notice to proceed (“FNTP”), which is expected in the second half of 2024.

The Company leased a parcel of land in the nearby City of Winnemucca for a transloading terminal (“TLT”) to be used during operations, providing direct access to the mainline railroad and an interstate highway.

The Company and its engineering, procurement and construction management (“EPCM”) contractor, Bechtel, entered into a National Construction Agreement (Project Labor Agreement) (“PLA”) with North America’s Building Trades Unions (“NABTU”) for construction of Thacker Pass.

Estimated total capital cost for Phase 1 construction has been revised to $2.93 billion to reflect updated quantities and execution planning tied to increased engineering progress, use of union labor through a PLA for construction of Thacker Pass, development of an all-inclusive housing facility for construction workers, updated equipment pricing and a larger project contingency.

During the year ended December 31, 2023, approximately $194 million was spent on Thacker Pass. The Company expects capital expenditures to be significantly lower in the first half of 2024 as the focus turns from early works to advancing detailed engineering and project planning ahead of FNTP.

Mechanical completion of Thacker Pass Phase 1 is targeted for 2027 following a three-year construction period. Major construction is expected to commence in the second half of 2024 following the anticipated closing of the DOE Loan and issuance of FNTP.

In light of current market conditions and to preserve strong liquidity, the Company has reduced project capital expenditures to minimal levels until closing of the DOE Loan and issuance of FNTP, which are expected in the second half of the year. In addition, the Company has taken actions to reduce its general and administrative and operating expense budget for 2024 by more than 25%.

Read the company’s full news and disclaimer here:

Research more mining stocks with stock directory

About – Big Investing Ideas is the go-to platform for big investing ideas. From breaking stock news to top-rated investing podcasts, we cover it all. Our original branded content includes podcasts such as Exploring Mining, Cleantech, Crypto Corner, Cannabis News, and the AI Eye. We also create free investor stock directories for sectors including mining, crypto, renewable energy, gaming, biotech, tech, sports and more. Public companies within the sectors we cover can use our news publishing and content creation services to help tell their story to interested investors. Paid content is always disclosed.

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions. More disclaimer info: More disclaimer and disclosure info Learn more about publishing your news release and our other news services on the newswire and Global investors must adhere to regulations of each country. Please read privacy policy:

Follow us on Twitter @investorideas and @stocknewsbites

Follow us on Facebook

Follow us on YouTube

Sign up for free stock news alerts at


800 665 0411