{
  "id": 19534582,
  "title": "Lithium Americas raises Thacker Pass cost estimate by 31% to $3.83bn",
  "url": "https://urgent.news/2026/11/11/lithium-americas-raises-thacker-pass-cost-estimate-by-31-to-3-83bn",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-11T18:20:49.000Z",
  "source": {
    "name": "The National Business",
    "slug": "the-national-business",
    "url": "https://www.thenationalnews.com/news/us/2026/11/11/lithium-americas-raises-thacker-pass-cost-estimate-by-31-to-383bn/"
  },
  "original_language": "en",
  "account": "Lithium Americas has raised the cost estimate for its Thacker Pass lithium project by 31%, estimating the project's cost at $3.83 billion. The company attributed the increase to higher labour, construction, and logistics costs. These cost hikes amount to an additional $895 million in capital costs, raising the project's funding needs by around $995 million. The company expects this additional funding to be secured through company contributions and existing loan reserves from the US Energy Department. Lithium Americas shares fell more than 8% on Wednesday following the announcement. The company's Phase 1 construction on the project is scheduled for late 2027, with subsequent phases running through 2028. Jonathan Evans, the CEO of Lithium Americas, stated that the anticipated capital cost for Thacker Pass is expected to remain funded despite external and internal factors impacting the project's cost estimate. The project, a joint venture between Lithium Americas and General Motors, is one of the largest known lithium deposits in the US. When fully operational, Thacker Pass is projected to generate 40,000 tonnes of battery-quality lithium carbonate annually, a critical component for electric vehicles. As global demand for rechargeable batteries is projected to quadruple by 2030, Thacker Pass is seen as vital for America's economic and national security. However, the rising estimated costs highlight the challenges of establishing a US supply chain, as mining is primarily concentrated in Australia, Chile, and China, while 65% of global lithium processing occurs in China. In September 2025, the Energy Department invested 5% equity and an additional 5% through warrants in Lithium Americas, restructuring a loan to help launch the only US-based source of lithium carbonate. The US government has been increasingly involved in critical minerals, including investments in other mining companies like MP Materials and USA Rare Earth.",
  "summary": "Lithium Americas on Wednesday increased its cost estimate for its flagship Thacker Pass lithium project to $3.83 billion, an increase of 31 per cent, the company said, giving higher labour, construction and logistics costs as reasons. The company said the revised budget adds $895 million in capital costs and raises the Nevada-based project's funding requirements by about $995 million. It said it…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}