Welcome to our dedicated page for Lithium Americas news (Ticker: LAC), a resource for investors and traders seeking the latest updates and insights on Lithium Americas stock.
Lithium Americas Corp. (NYSE: LAC) is a leading lithium producer advancing North America's largest lithium resource at Thacker Pass, Nevada. This page aggregates all official announcements, financial reports, and operational updates directly from the company.
Key resources for stakeholders: Track project milestones, partnership developments (including General Motors), and production timelines through verified press releases. Content categories include quarterly earnings, regulatory filings, technology innovations in clay-based lithium extraction, and supply chain agreements.
Why monitor this page: Investors gain timely insights into production capacity expansions and cost leadership positioning. Analysts access primary-source data on reserve estimates and ESG initiatives. All content is vetted for accuracy and updated as releases are published.
Bookmark this page or check regularly for unfiltered updates on LAC's role in powering the electric vehicle revolution through sustainable lithium production.
Lithium Americas Corp. (LAC) and General Motors (GM) have entered into a new investment agreement to establish a joint venture for the Thacker Pass lithium project in Nevada. GM will invest $625 million for a 38% stake in the project, including $430 million in direct cash funding and a $195 million letter of credit facility. This replaces GM's previous $330 million Tranche 2 equity investment commitment.
The joint venture will support the construction of Phase 1 and leverage the $2.3 billion U.S. Department of Energy loan announced earlier. GM has also extended its offtake agreement for Phase 1 production to 20 years and will enter a new 20-year offtake agreement for up to 38% of Phase 2 production. Lithium Americas will retain a 62% interest in Thacker Pass and manage the project.
The companies aim to make a final investment decision by the end of the year, following the closing of the DOE loan and the joint venture transaction.
Lithium Americas (LAC) and General Motors (GM) have agreed to extend the deadline for GM's second tranche investment of $330 million in LAC's Thacker Pass project until the end of the year. This investment is part of a larger $650 million equity investment by GM to support the development of North America's largest known lithium resource. The companies are exploring alternative structures for the investment, with LAC agreeing to forbear making a unilateral election to close the second tranche until December 20, 2024. The investment is contingent on finalizing a $2.26 billion loan from the U.S. Department of Energy, which LAC expects to close by year-end. This partnership aims to develop a robust domestic lithium supply chain, with Thacker Pass targeting a total production capacity of 80,000 tonnes per annum of battery-grade lithium carbonate.
Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) has reported its Q2 2024 financial results. Key highlights include:
1. A $2.26 billion conditional loan commitment from the U.S. Department of Energy for Thacker Pass Phase 1 construction.
2. Site preparation completed for major earthworks at Thacker Pass.
3. $375.8 million in cash and cash equivalents as of June 30, 2024.
4. Net loss of $12.3 million for the six months ended June 30, 2024.
5. Advancement of the Workforce Hub preparation.
6. Receipt of an $11.8 million grant from the U.S. Department of Defense.
The company is focusing on closing the DOE loan and GM investment to commence major construction by year-end.
NACCO Industries (NYSE: NC) reported strong Q2 2024 results, with operating profit increasing to $7.4 million from $1.8 million in Q2 2023. Key highlights include:
- Net income rose to $6.0 million ($0.81/share) from $2.5 million ($0.34/share) in Q2 2023
- Results boosted by improved performance in Coal Mining and North American Mining segments
- $4.5 million gain from sale of legacy land asset in Minerals Management segment
- Coal Mining segment saw significant increase in operating profit and Adjusted EBITDA
- North American Mining revenues grew 29%, with operating profit up 39%
- Company expects continued growth in second half of 2024 across segments
NACCO is pursuing long-term growth and diversification strategies to transform into a broad-based natural resources company, targeting opportunities in mineral interests, mining services, and environmental solutions.
Lithium Americas (NYSE: LAC, TSX: LAC) announced the results of its annual general and special meeting held on May 24, 2024. All eight director nominees were elected with a strong majority of votes. Kelvin Dushnisky received 95.40% of votes, Michael Brown 97.54%, Fabiana Chubbs 97.07%, Jonathan Evans 97.36%, Dr. Yuan Gao 97.71%, Zach Kirkman 97.70%, Jinhee Magie 97.20%, and Philip Montgomery 97.85%. Comprehensive voting results will be available on SEDAR+, EDGAR, and the company's website.
Lithium Americas Corp. reported its Q1 2024 financial and operating results, highlighting completion of site preparation at Thacker Pass for major construction, progress in detailed engineering, and receipt of a $2.26 billion loan commitment from the U.S. DOE. The estimated total capital cost for Phase 1 construction has been revised to $2.93 billion, with $62.5 million in construction costs capitalized in Q1 2024. The Company had $147 million in cash and cash equivalents as of March 31, 2024, and completed a $275 million public offering of common shares to fund Thacker Pass construction.
NACCO Industries announced their first-quarter results for 2024, showing a 162% increase in operating profit, a 28% increase in income before taxes, and a decrease in net income due to higher income tax expenses. The company repurchased shares and maintained a conservative capital structure. The Coal Mining segment saw a decline in revenues and operating results, while the North American Mining segment experienced significant growth. The Minerals Management segment showed increased revenue and profit. The company expects improved results in 2024, focusing on growth and diversification.
