Australia's Deterra Royalties rises on final investment decision for project

Deterra Royalties

02/04/2025 01:31

** Shares of Deterra Royalties DRR.AX rise 0.7% to A$3.735

** The investment manager and fund operator says Lithium Americas Corporation and General Motors Holdings LLC announced a final investment decision (FID) for Phase 1 of Thacker Pass, in which DRR holds a 4.8% gross revenue royalty

** Confirmation of the FID by JV partners puts project on track to complete Phase 1 in late 2027 - co

** Stock rose as much as 1.8% earlier in the day

** Stock marginally up 0.5% this year, including the day's move

 (Reporting by Shivangi Lahiri in Bengaluru)

 ((shivangi.lahiri@thomsonreuters.com;))