US government takes equity stake in one of the world’s largest lithium mines

The US government is taking a 5% equity stake in the Thacker Pass lithium mine, one of the world's largest, as well as another 5% stake in the mine's joint project with GM in Nevada. This is the latest step by the Trump administration to assert more control over domestic supply chains for critical materials like lithium, which is essential for electric vehicles, renewable energy storage, and rechargeable devices. The Thacker Pass mine, expected to become the largest lithium producer in the Western Hemisphere, has faced fierce opposition from local Indigenous tribes, ranchers, and environmental groups who are concerned about its impact on the environment and Indigenous rights. The federal government's permitting of the mine has been criticized for failing to obtain "free, prior, and informed consent" from affected tribes. The Biden administration previously provided a $2.26 billion loan agreement to Lithium Americas, the company behind the Thacker Pass mine. The revised agreement now includes more than $100 million in new equity, with the government taking a stake to ensure the mine's viability as lithium prices drop globally.