Energy Department conditionally approves $2.26 billion loan for huge lithium mine in Nevada

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President Joe Biden's administration has agreed to provide a $2.26 billion conditional loan for a huge lithium mine in Nevada. The money will help Canadian-based Lithium Americas cover construction costs of a processing facility at its giant mine in the works in northern Nevada near the Oregon line. The U.S.

FILE - Construction continues at the Thacker Pass lithium mine on April 24, 2023, near Orovada, Nev. The Biden administration has agreed to provide a $2.26 billion conditional loan to Lithium Americas, Thursday, March 14, 2024, to help cover construction costs of a processing facility at its giant lithium mine in the works in northern Nevada near the Oregon line. RENO, Nev.

“Thacker Pass is a treasure trove of lithium — key to strengthening U.S. energy security and electrifying America,” Energy Secretary Jennifer Granholm said in a message posted Friday on X, formerly known as Twitter. The department said lithium carbonate from Thacker Pass could support the production of batteries for up to 800,000 electric vehicles annually, avoiding the consumption of 317 million gallons of gasoline per year.supply chain, which is essential to building America’s clean transportation future and enhancing our national and energy security,” DOE said Thursday.

But a federal judge in Reno dismissed the latest challenges in December and the chairman of the Reno Sparks Indian Colony at the forefront of the legal battle said weeks later they were abandoning any future appeals.“Thacker Pass will provide important economic and employment opportunities for members of our Tribe,” Larina Bell of the Fort McDermitt Paiute Shoshone Tribe said in a statement.

 

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