Department of Energy to Take Stakes in Lithium Americas and Its Nevada Mine

The DOE is taking a 5 percent stake in Lithium Americas and another 5 percent in the company’s Nevada lithium mine under construction.

Lithium-rich lepidolite in the Stewart Lithia Mine near Pala, Calif., in this file photo. John Fredricks/The Epoch Times

Energy Secretary Chris Wright announced on Oct. 1 that the Department of Energy (DOE) is taking a 5 percent stake in Lithium Americas Corp. and another 5 percent stake in the company’s lithium mine under construction in the Nevada desert. These moves are part of the federal government’s efforts to onshore critical minerals.

As of 1:40 p.m. EDT on Oct. 1, shares of Lithium Americas were up by 25.03 percent.