Lithium Americas has received a strategic investment of $250 million from funds managed by Orion Resource Partners, a global investment firm focused on metal and materials projects, for the development and construction of Phase 1 of the Thacker Pass lithium project in Humboldt County, Nevada.

The target for completion of Thacker Pass Phase 1 is late 2027.

Orion has entered a production payment agreement in which it will pay Lithium Americas $25 million in exchange for payments corresponding to the minerals processed and gross revenue generated by Thacker Pass.

In addition, Orion has signed a non-binding agreement to evaluate the potential to support up to $500 million of financing for the construction and development of Phase 2 of the project.

Lithium Americas expects that the investment will satisfy all remaining requirements from the US Department of Energy (DOE) and investor General Motors to satisfy all remaining equity capital fundraising requirements under a previously announced $2.26-billion DOE loan. The investment positions the company to be fully funded for the duration of construction. It expects to start drawing on the DOE loan during the third quarter of 2025.

The final investment decision on the project remains subject to certain conditions, including GM’s approval.

“Orion is excited to make this strategic investment in Lithium Americas to support the development of a domestic lithium supply chain to meet the rising demand across industries,” said Oskar Lewnowski, Orion’s founder and Group CEO.

Source: Lithium Americas