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. (LAC) is a leading pure-play lithium producer dedicated to advancing sustainable energy solutions. The company's flagship asset, Thacker Pass, is located in northwest Nevada and represents one of the largest known lithium resources globally. Thacker Pass is an innovative clay-based lithium project currently under construction, with production expected to commence in the mid- to late 2020s. With this project, Lithium Americas aims to establish a fully integrated lithium production site, incorporating both mining and downstream refining capabilities on-site.
Under the leadership of its experienced management team, Lithium Americas is poised to enter the lithium chemical market, providing a vital resource for the production of batteries, essential for electric vehicles and renewable energy storage. The company's strategic partnerships and initiatives reflect its commitment to delivering shareholder value while contributing to the global transition towards cleaner energy.
The company maintains a strong financial position, with substantial investments earmarked for the development and expansion of its operations. The ongoing construction at Thacker Pass marks a significant milestone, demonstrating Lithium Americas' capability to execute large-scale projects efficiently and sustainably. As the demand for lithium continues to grow, Lithium Americas stands at the forefront, ready to meet the global market needs with its high-quality lithium products.
For the latest updates and news about Lithium Americas Corp., interested parties can reach out to Virginia Morgan, VP of Investor Relations and ESG, at +1-778-726-4070 or via email at ir@lithiumamericas.com. More information is also available on the company's website, www.lithiumamericas.com.
Lithium Americas Corp. (NYSE: LAC) is progressing towards the construction of its Thacker Pass lithium project in Nevada, having received all required state and federal permits. The federal court will hold an oral hearing regarding the project's Record of Decision on January 5, 2023. Previously, all injunction requests related to Thacker Pass were denied. The company is also finalizing partnerships and supply agreements, and is applying for U.S. Department of Energy funding. The Thacker Pass project is positioned as a critical lithium supply source for North America's growing battery ecosystem.
Lithium Americas Corp. (LAC) has announced a Strategic Collaboration Agreement with Green Technology Metals Ltd. (GT1) aimed at developing an integrated lithium chemical supply chain in North America. This collaboration builds on a previous $10 million investment by Lithium Americas in GT1. The agreement includes the establishment of a Strategic Management Committee to oversee joint exploration and development efforts, particularly focused on North American lithium resources. The partnership follows the passing of the Inflation Reduction Act, highlighting the growing demand for domestic lithium supply.
Lithium Americas Corp. (LAC) reported its Q2 2022 financial results, highlighting significant progress in its lithium projects in Argentina and the U.S. Construction at the Caucharí-Olaroz project is over 90% complete, with a focus on production. The company has spent 88% of its capital budget, totaling $653 million. In the U.S., the Thacker Pass project is advancing, with necessary permits secured and early construction expected to commence in 2022. As of June 30, 2022, LAC had $441 million in cash and equivalents. The net loss was reduced to $16.6 million compared to $19.3 million in Q2 2021.
Lithium Americas Corp. (TSX: LAC, NYSE: LAC) announced the results of its annual shareholder meeting held on June 21, 2022. Shareholders approved several key items, including:
- Setting the Board of Directors at nine members.
- Electing nine incumbent directors.
- Reappointing PricewaterhouseCoopers LLP as auditors.
- Passing a non-binding advisory vote on executive compensation.
Voting results showed strong support for all resolutions, with over 96% approval for the advisory vote on executive compensation.
Lithium Americas Corp. (LAC) has announced a technical collaboration with Arena Minerals Inc. to optimize development in the Pastos Grandes basin, Argentina. This agreement aims to share technical knowledge, explore processing technologies, and develop a resource model to enhance lithium extraction efficiencies. The collaboration emphasizes sustainable development and community engagement. Key elements include joint data sharing and infrastructure utilization, although no intellectual property will be exchanged. Both companies are focused on advancing their lithium projects amidst the growing demand for lithium products.
Lithium Americas Corp. (LAC) announced its Q1 2022 results, reporting a net loss of $46.1 million compared to $10 million in Q1 2021. The company has spent $605 million of its $741 million budget on its Caucharí-Olaroz project, which is nearing completion. It also made a $360 million acquisition of the Pastos Grandes project. In the U.S., LAC is advancing the Thacker Pass project, with a feasibility study in progress. The company holds $492 million in cash and has additional credit. A key environmental permit was issued in February for Thacker Pass.
Lithium Americas Corp. (LAC) has entered an agreement to acquire shares of Green Technology Metals Ltd. (GT1) for a total of US$10 million. This investment is part of a larger share placement, with LAC expected to hold about 5% of GT1 upon completion. The collaboration aims to enhance the North American lithium supply chain, focusing on advancing GT1's Ontario Lithium Projects and developing processing for battery-grade lithium chemicals. The partnership leverages both companies' expertise in lithium production and processing.
Lithium Americas Corp. (NYSE: LAC) announced on April 14, 2022, that it has submitted a formal loan application to the US Department of Energy's Loan Programs Office for funding related to its Thacker Pass lithium project in Nevada. This project aims to build a domestic lithium supply chain for electric vehicle production. CEO Jonathan Evans emphasized the project's significance in supporting US battery and EV industries. However, securing funding is not guaranteed, and further steps are required in the application process.
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