Energy Department Conditionally Approves $2.26 Billion Loan for Huge Lithium Mine in Nevada

[BumRushDaShow]

Source: US News and World Report/AP

March 15, 2024, at 4:16 p.m.


RENO, Nev. (AP) — The U.S. Energy Department has conditionally agreed to loan more than $2 billion to a company building a controversial lithium mine in Nevada to help meet rising demand for a critical element in the manufacture of batteries for electric vehicles, a key part of the Biden administration's renewable energy agenda.

The department agreed on Thursday to provide the $2.26 billion conditional loan to Canada-based Lithium Americas to help cover construction and related costs at an open pit mine deeper than the length of a football field near the Oregon line.

Department officials said the loan would help finance the construction of a lithium carbonate processing plant at the Thacker Pass mine about 200 miles (322 kilometers) north of Reno.

“The project is located next to a mine site that contains the largest-proven lithium reserves in North America,” DOE said in a statement.

Read more: https://www.usnews.com/news/best-states/nevada/articles/2024-03-15/energy-department-conditionally-approves-2-26-billion-loan-for-huge-lithium-mine-in-nevada

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U.S. Department of Energy ANNOUNCEMENT - LPO Announces Conditional Commitment to Lithium Americas Corp. to Help Finance the Construction of a Lithium Processing Plant in Nevada

[The Wizard]

1. We're becoming dependent

as an energy source.

[OhioTim]

2. Batteries Using Lithium

will be like dinosaurs in the near future. Too many problems with the technology. Have you noticed how hard it is to sell EV vehicles? Solid state and other batteries using common elements like sodium are the future..

[GregariousGroundhog]

3. Thacker Pass is projected to produce 66,000 tons of lithium per year

The average electric vehicle requires about 20 pounds of lithium, so this will provide enough lithium for about 6.5 million electric vehicles per year.