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(Alliance News) - Trident Royalties PLC on Friday said that construction at Thacker Pass is imminent, after Lithium Americas Corp closed the initial tranche of its previously announced investment by General Motors Co.
Trident Royalties is a London-based mining royalty and streaming company. Its Thacker Pass lithium project is based in Nevada, and operated by Lithium Americas Corp.
On Thursday, Lithium Americas Corp said that it had closed the initial USD320 million tranche of its USD650 million investment by General Motors, the proceeds of which are being used to accelerate the development of Thacker Pass.
Following the investment, General Motors is now LAC's largest shareholder and offtake partner. Trident holds a 60% interest in a gross revenue royalty over the entirety of Thacker Pass. At current lithium spot price of USD59,000 per tonne lithium carbonate equivalent, once at full production, the royalty will generate approximately USD50 million per year to Trident.
"Thacker Pass is a long life mine of significant strategic importance in the context of the United States' transition to net zero. Following last week's ruling on the Record of Decision, and with this injection of capital from GM's historic investment in LAC, construction can commence in short order with first production expected in H2 2026," said Chief Executive Officer Adam Davidson.
Trident shares were trading 3.0% higher at 57.68 pence each in London on Friday morning.
By Holly Beveridge; Alliance News reporter
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