Lithium Americas Boosts Thacker Pass Reserve, Paving Way for Major Expansion

Lithium Americas

Lithium Americas has announced a significant increase in the estimated mineral resource and reserves for its Thacker Pass lithium project in Nevada, USA. This substantial increase supports a major expansion that could boost the project's battery-grade lithium carbonate capacity to a potential 160,000 metric tonnes (t) per year. The updated proven and probable mineral reserve estimate for Thacker Pass now stands at 14.3 million tonnes of lithium carbonate equivalent (LCE), a remarkable 286% jump since the November 2022 feasibility study, according to the latest technical report.  This makes Thacker Pass the largest measured lithium reserve and resource globally.

Phased Expansion for Long-Term Production

The increased reserve enables a phased expansion with an impressive 85-year life of mine (LOM), targeting 160,000 t LCE per year.  The expansion will be divided into four phases, each targeting 40,000 t LCE/year, with construction of each phase spaced approximately four years apart. Lithium Americas President and CEO Jonathan Evans emphasized the project's potential to generate American jobs and contribute to US energy independence.

General Motors' Stake and Offtake Agreements

General Motors (GM) holds a 38% ownership stake in the Thacker Pass project and has secured an offtake agreement for 100% of Phase 1 output for 20 years, and 38% of Phase 2 output for 20 years, with a right of first offer on the remaining Phase 2 volumes.  The updated operating costs (OPEX) are estimated at $6,238/t LCE under the optimized production scenario for the first 25 years of the LOM, and $8,039/t LCE in the base case covering the entire 85-year LOM.