In a win for the lithium mining company Lithium Americas (NYSE: LAC), a U.S. district judge in Nevada has upheld the Federal Government’s decision to approve the Thacker Pass lithium mine. Many environmental groups had voiced their opposition to the Federal Government’s decision to approve the mine.
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This is an important win for LAC as this mine is the largest-known lithium resource in the U.S. Following the news, shares of LAC ticked up in pre-market trading on Tuesday.
While Judge Miranda Ru approved the mine, she also asked the U.S. Bureau of Land Management (BLM) to revise its environmental analysis. Ru commented, “The Court will remand for BLM to fix the error—to determine whether Lithium Nevada possesses valid rights to the waste dump and mine tailings land it intends to use for the Project.”
Analysts are bullish about LAC stock with a Strong Buy consensus rating based on five unanimous Buys.
