US Government Confirms 5% Stake In Lithium Americas

Lithium Americas (LAC) surged early Wednesday after Secretary of Energy Chris Wright told Bloomberg TV that the U.S. government will take a stake in the company, confirming recent reports.

The U.S. will take a 5% stake in Lithium Americas as well as a 5% stake in its Thacker Pass lithium project in Nevada.

"It's in America's best interest to get that mine built," Wright said late Tuesday. "We're going to see a huge new lithium resource come on. In the next couple of years it will displace a massive amount of imported lithium."

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