Newscasts - Lithium Americas shares skyrocket as Washington considers stake

Lithium Americas

24/09/2025 18:05

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Source: 'Reuters - General news videos'

Description: Shares of Lithium Americas jumped more than 100% on Wednesday after Reuters reported that the Trump administration is seeking up to a 10% stake in the miner, in the latest sign of Washington's intervention into industries it considers critical to national security. Lisa Bernhard has more.

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Video Transcript:

Shares of Lithium Americas more than doubled Wednesday morning after Reuters reported that the Trump Administration is seeking up to a 10% stake in the miner. It's the latest sign of Washington's intervention into industries it considers critical to national security. Late Tuesday, Reuters reported the proposed stake was part of negotiations over a nearly $2.3 billion loan from the US Department of Energy for the company's Thacker Pass lithium project. Located in Nevada, Thacker Pass is the largest planned lithium mine in the Western Hemisphere. Canada-based Lithium Americas said on Wednesday it was in discussions with the US Energy Department and General Motors over the loan. GM has a 38% stake in Thacker Pass. The move underscores President Trump's increasing use of direct government ownership to steer strategic sectors and curb reliance on China, which dominates refining of many critical minerals. Thacker Pass is seen as a linchpin in building a domestic supply chain, part of Washington's long-standing drive to boost US production of lithium, a metal used to make batteries for electric vehicles and other electronics. The news also lifted shares of other lithium miners, including Albemarle, Sigma Lithium, and US-listed shares of SQM.