The US Government is reassessing a $2.3bn loan sanctioned under the Biden administration to support the development of Lithium Americas’ Thacker pass lithium project in Nevada, reported Bloomberg, citing sources. The financing, finalised in 2024, was intended to fund the construction of a processing facility next to one of the country’s largest lithium deposits. The department is reportedly pressing General Motors (GM), which holds a 38% stake in Thacker Pass, to enter into a binding offtake agreement for the mine’s production. Last December, GM purchased a stake in the lithium project for $625m in cash and letters of credit. By GlobalData Learn more about Strategic IntelligenceA spokesperson from GM was quoted as saying: “During his first term President Trump strongly supported the development of Nevada’s Thacker Pass mine.