Trump administration wants 10% stake in Canadian lithium miner that sells to GM

The U.S. government is actively pursuing a significant equity stake in what is anticipated to be the largest lithium mine in the Western Hemisphere, despite ongoing rhetoric labeling the energy transition as a "green new scam." This initiative is linked to negotiations surrounding a $2.26 billion loan from the Department of Energy, aimed at Lithium Americas, a Canadian-based company that has attracted considerable investment from General Motors (GM). Sources reported that the Trump administration is seeking as much as a 10% ownership in Lithium Americas in exchange for extending the repayment terms of the federal loan. A White House representative emphasized that while President Trump is supportive of the project, the administration insists that there are no shortcuts when it comes to taxpayer money. Lithium Americas is currently developing the Thacker Pass mine in Nevada, which is projected to produce enough lithium to support the manufacturing of approximately 800,000 electric vehicles each year. The project received its permit during the final days of Trump’s first term, while the loan was approved by the Biden administration’s DOE. Last year, GM acquired a 38% stake in Lithium Americas for $625 million, a strategic move that also allows the automaker to secure the entire output from the mine's first phase and a substantial portion of the second phase, totaling enough lithium for 1.6 million electric vehicles over the next 20 years. Reports suggest that the Trump administration is urging GM to guarantee these purchases, even as it navigates the complexities of supporting the automotive industry's shift towards electric vehicles.