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 a 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 Vancouver-based company’s lithium mine under construction in the Nevada desert—each among efforts of the federal government in its steps toward onshoring critical minerals.

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