Nevada Lithium Mine Scores $2.26B DOE Loan

The developer of a Nevada lithium mine has received a $2.26 billion loan from the U.S. Department of Energy to help finance the mine’s construction. The money will allow Lithium Nevada Corp. to help finance the construction of facilities for processing lithium at Thacker Pass in Humboldt County, Nevada. The mine is northeast of Reno, near the Utah border.

Once fully operational, the facilities are expected to produce approximately 40,000 tonnes per year of battery-grade lithium carbonate used in EV car batteries. Lithium carbonate from Thacker Pass could support the production of batteries for up to 800,000 EVs annually, avoiding the consumption of 317 million gallons of gasoline per year.

The project will create 1,800 construction jobs and 360 permanent, full-time operations jobs.

General Motors, which is expected to be a long-term primary lithium carbonate buyer for the project, is also supporting its development.