US Takes a Stake in Another Company, This One is Operating a Massive Lithium Mine in Nevada

RENO, NEVADAJune 7, 2021Lithium Americas Corp. has created a new process to extract lithium from clay, which will be used in the proposed mining site at Thacker pass. Daniel Elvidge is a pilot plant technician at Lithium Americas Corp. in Reno, Nevada. Photo taken on June 7, 2021. (Carolyn Cole / Los Angeles Times via Getty Images)

The U.S. government is taking a minority stake in Lithium Americas, a company that is developing one of the world’s largest lithium mines in northern Nevada. The Department of Energy will take a 5% equity stake in the miner, which is based in Vancouver. It will also take a 5% stake in the Thacker Pass lithium mining project, a joint venture with General Motors. Thacker Pass is considered crucial in reducing U.S. reliance on China for lithium, a critical material used to produce the high tech batteries used in cell phones, electric vehicles and renewable energy. Both Republicans and Democrats support the project and narrowing the production gap. China is the world’s largest lithium processor.