Lithium Americas (LAC.US) rose before the market, receiving the first loan disbursement from the U.S. Department of Energy for the construction of the Thacker Pass project.

Lithium Americas (LAC.US) announced that they have received the first installment of $435 million out of the $2.23 billion guaranteed loan provided by the Loan Programs Office (LPO) of the U.S. Department of Energy, to fund the construction of processing facilities for the Thacker Pass lithium project in Nevada. Encouraged by this news, Lithium Americas' stock rose over 2% in pre-market trading on Tuesday. The $2.23 billion Department of Energy loan includes $1.97 billion in principal, as well as an estimated $256 million in capitalized interest during the construction period. The company stated that, under the standard terms of such construction loans outlined in the loan documents, they can access the loan funds flexibly on a monthly basis as long as certain conditions are met. Lithium Americas President and CEO Jonathan Evans said, "We are very excited about the rapid progress of the Thacker Pass project." He added that construction of the processing facilities has already begun and workers have moved into employee housing in Winnemucca. Earlier this month, U.S. Secretary of Energy Chris Wright announced that the U.S. government has agreed to acquire a stake in Lithium Americas. Reports indicate that the U.S. Department of Energy will hold a 5% stake in Lithium Americas, as well as a 5% stake in the Thacker Pass project, a joint venture with General Motors Company, which relies on the Thacker Pass project to meet a large portion of its lithium needs for its electric vehicle transition. This move is the latest effort by the Trump administration to accelerate the development of domestic supply chains for critical minerals. Earlier this year, the U.S. Department of Defense announced a $400 million investment in MP Materials, a new factory producing rare earth magnets.