Lithium Americas Corp. (TSE:LAC) has released an update.
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Lithium Americas Corp. has completed site preparation for the Thacker Pass lithium project, with detailed engineering 30% complete and major construction set to begin in late 2024, supported by a $2.26 billion conditional loan from the U.S. Department of Energy. The total revised capital cost for Phase 1 is now $2.93 billion, with funding primarily coming from the DOE loan and a strategic investment from General Motors. In 2023, the company spent $193.7 million on the project and has plans to reduce capital expenditures in the first half of 2024.
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