The US government agreed to acquire a stake in Lithium Americas Corp., Secretary of Energy Chris Wright said, giving a boost to the Canadian company as it develops its Thacker Pass lithium project in Nevada.
The US will take a 5% stake in the Vancouver-based company, as well as a 5% stake in the company’s mining project of the largest lithium deposit in the US, Wright said in a Bloomberg Television interview on Tuesday, adding the move was necessary to help counter China’s control of the lithium market. The US-listed shares of Lithium Americas jumped as much as 41% in postmarket trading.