Lithium Americas is Making Headway on Its Thacker Pass Project

Dow Jones08-13

11:02 ET -- Lithium Americas' 2Q results show steady progress and disciplined execution on its flagship Thacker Pass project in Nevada. The company says detailed engineering design tops 95% and procurement exceeds 80%, and notes that mechanical completion remains on target for late 2027. The company is also pushing through cost headwinds, including an estimated $80 million to $100 million in potential tariff exposure and Middle East shipping reroutes, but still turned a small profit, and maintains its full-year capex guidance at $1.3 billion to $1.6 billion. Still, the company has $1.3 billion in reserve, as well as a new $175 million convertible debenture facility to fund its ongoing construction ramp. Shares in Toronto are up 6.6% at C$4.84.

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