Lithium Nevada Corp., the developer of a lithium mine in Nevada, has secured a $2.26 billion loan from the U.S. Department of Energy to aid in financing the construction of their facilities at Thacker Pass in Humboldt County. The mine is located northeast of Reno and near the Utah border.
Once operational, these facilities are projected to produce 40,000 tonnes per year of battery-grade lithium carbonate for use in electric vehicle (EV) batteries. This amount could support production for up to 800,000 EVs annually and reduce gasoline consumption by 317 million gallons per year.
The project is expected to create approximately 1,800 jobs during construction and provide permanent employment for around 360 people once operations begin. General Motors has also shown support for this development as they are anticipated to be a major buyer of primary lithium carbonate from this project long-term.
This news was originally published on Connect CRE.
