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US takes a stake in another company, this one is operating a massive lithium mine in Nevada
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News - 96.5 WKLH
By MICHELLE CHAPMAN AP Business WriterThe U.S. government is taking a minority stake in Lithium Americas, a company that is developing one of the world’s largest lithium mines in northern Nevada.
It will also take a 5% stake in the Thacker Pass lithium mining project, a joint venture with General Motors.
The equity stake in Lithium Americas is the latest example of the direct intervention by the Trump administration with private companies.
GM has pledged more than $900 million to help develop Thacker Pass, which holds enough lithium to build 1 million electric vehicles annually.
Shares of Lithium Americas spiked more than 30% Wednesday.