Lithium Americas weighs separation of its U.S. lithium operations

Feb. 28, 2022 8:25 AM ETLithium Americas Corp. (LAC), LAC:CABy: Carl Surran, SA News Editor4 Comments

Lithium concept

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Lithium Americas (NYSE:LAC) -2.2% pre-market after saying it is exploring a potential separation of its U.S. and Argentina operations through the creation of a standalone public company focused on the development of its Thacker Pass lithium project in Nevada.

"While no final decision has been made, we believe a separation could enable each of our businesses to maximize and accelerate their strategic objectives, with dedicated focus and increased financial flexibility," President and CEO Jonathan Evans said.

Lithium Americas also said it submitted a draft application to the U.S. Department of Energy for funding to be used at Thacker Pass through the Advanced Technologies Vehicle Manufacturing Loan Program, which is designed to provide funding to U.S. companies engaged in the manufacturing of advanced-technology vehicles and components used in those vehicles.

The company sees Thacker Pass as "representing one of the most significant opportunities to create a truly domestic lithium supply chain to support the production of electric vehicles in the U.S."

Lithium Americas said last week that Nevada's environmental regulator issued the final key state-level permits for Thacker Pass.

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