Thacker Pass capex up to $1.6B: schedule and design notes for mine planners
Reviewed by Tom Sullivan
First reported on MINING.com
30 Second Briefing
Lithium Americas plans 2026 capex of US$1.3–1.6 billion on Phase 1 of the Thacker Pass lithium project in Nevada, with US$1.2–1.5 billion directed to construction and peak on-site employment of about 1,800 skilled workers by year-end. Detailed engineering is 93% complete and procurement 60%, backed by a US$2.23 billion US Department of Energy loan and equity stakes including 38% ownership by General Motors. Phase 1 is scheduled to start producing 40,000 t/y of battery-grade lithium carbonate from late 2027, with full ramp-up through 2028.
Technical Brief
- DOE loan of US$2.23 billion is the largest facility the Department has extended to a miner.
- Loan structure is intended to cover a planned three‑year buildout of Thacker Pass Phase 1.
- Remaining 2026 capex beyond direct construction is allocated to other capitalised development and DOE interest payments.
- US government has taken a 5% equity stake in Lithium Americas and 5% directly in Thacker Pass.
- General Motors holds a 38% equity interest, aligning mine output with downstream EV battery demand.
- Thacker Pass is positioned as the Western Hemisphere’s largest lithium source, exceeding Albemarle’s Silver Peak output.
- Nameplate 40,000 t/y lithium carbonate capacity equates to supply for roughly 800,000 electric vehicles per annum.
- Strengthening lithium market conditions are timed with late‑2027 commissioning and 2028 production ramp‑up, reducing price risk.
Our Take
With Albemarle idling its Kemerton lithium hydroxide plant in Western Australia, Thacker Pass in Nevada stands out in our database as one of the few large-scale lithium builds advancing in an environment where some incumbents are curbing conversion capacity.
The combined 5% US government stake in Lithium Americas and in Thacker Pass, alongside the DOE’s multi‑year loan, effectively anchors this Nevada lithium project within US industrial policy in a way not seen in other recent lithium items in our coverage, which more often feature Chilean or Australian state involvement.
General Motors’ 38% project stake gives an automaker unusually deep exposure to upstream lithium in North America, contrasting with other lithium stories in our database where OEMs typically rely on offtake or supply agreements rather than embedded project ownership.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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