LinkedIn
WebsiteIntroduction
Lithium Americas Corp (NYSE: LAC; TSX: LAC) is a mining company based in Canada focusing on the development of lithium resources for electric vehicles and energy storage industries. As of September 24, 2025, its shares traded on the New York Stock Exchange at $5.6320, reflecting an increase of 83.45% on trading volume of 42,899,788 shares. The company’s primary asset is the Thacker Pass project in northern Nevada, which it operates as a joint venture with General Motors Holdings LLC.
Corporate Structure and Operations
Headquartered in Vancouver, British Columbia, Lithium Americas employs between 501 and 1,000 people across its corporate, exploration, and construction teams. The firm holds a 62% interest in Thacker Pass, while General Motors owns the remaining 38% and has off-take rights to early production. Engineering, procurement, and construction management (EPCM) is conducted by Bechtel Corporation under a Project Labor Agreement with North America’s Building Trades Unions. Management targets an annual design capacity of 40,000 tonnes of battery-quality lithium carbonate in Phase 1.
Lithium mine by Anton Maksimov 5642.su
Recent Developments and News
• January 15, 2021: The U.S. Bureau of Land Management issued a Record of Decision approving the Thacker Pass Lithium Mine.
• March 2023: Initial construction began on site, including foundation work for processing facilities.
• January 31, 2023: General Motors announced a $650 million investment in the project, securing access to first-phase production.
• March 14, 2024: The U.S. Department of Energy offered a $2.26 billion loan to support construction of the mine.
• October 16, 2024: General Motors increased its commitment to $945 million, forming a joint venture to support development.
• September 24, 2025: Shares closed at $5.6320, up 83.45% from the prior trading day, on volume of 42.9 million.
Financial and Strategic Analysis
On a trailing-twelve-month basis through June 30, 2025, Lithium Americas reported:
- Net loss attributable to common shareholders of $52.86 million (EPS: -$0.25).
- Cash and cash equivalents of $508.85 million.
- Total debt representing 19.95% of shareholders’ equity.
- Levered free cash flow deficit of $433.12 million.
- Market capitalization of approximately $799 million.
- Price/book ratio of 1.29.
Liquidity is supported by equity and government-backed financing, positioning the company to fund construction through first production. Upon commissioning, Thacker Pass is expected to operate in the bottom half of the global cost curve for clay-based lithium. The company aims to capture additional value by supplying lithium chemicals directly to battery manufacturers and automakers with its downstream refining capabilities on site.
Market Position and Industry Context
Global demand for lithium is influenced by the increasing adoption of electric vehicles and grid-scale storage. Thacker Pass ranks among the largest known lithium deposits globally, with measured and indicated resources exceeding 12 million tonnes of lithium carbonate equivalent. As one of the first clay-hosted projects to begin production, the mine could contribute to diversifying the North American lithium supply chain, which is currently dominated by brine and hard-rock operations. Strategic partnerships, including that with General Motors, provide offtake assurance and highlight potential integration between raw-material producers and end users within the automotive sector.
tl;dr
Lithium Americas’ stock reached $5.6320 on September 24, 2025, supported by substantial trading volume and developments related to its Thacker Pass project. Significant milestones achieved in March 2023 and financing packages—including a $2.26 billion loan announced on March 14, 2024, and GM’s $945 million equity commitment as of October 16, 2024—have reduced development risks. First production is anticipated to commence in 2026, with full Phase 1 capacity expected by 2027 and a ramp-up continuing into 2028. The joint-venture structure, integrated refining plans, and proximity to North American battery manufacturers position the company to meet increasing lithium demand.
