In an effort to increase local supply of essential minerals, the US Energy Department is in talks to lend a record $1 billion to the developer of one of the country’s largest lithium reserves.
According to a person familiar with the subject who asked not to be identified because they were discussing classified information, the Biden administration and Lithium Americas Corp. are negotiating the parameters of an arrangement that would cover more than half of the cost of the Thacker Pass mine in Nevada.
