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Bullboard - Stock Discussion Forum Lithium Americas Corp T.LAC

Alternate Symbol(s):  LAC

Lithium Americas Corp. is a lithium resource company. The Company is focused on advancing Thacker Pass to production. The Company owns 100% of the Thacker Pass project, which is located in Humboldt County in northern Nevada, through its wholly owned subsidiary, Lithium Nevada Corp. Thacker Pass is situated at the southern end of the McDermitt Caldera, approximately 60 miles (100 kilometers... see more

TSX:LAC - Post Discussion

Lithium Americas Corp > Summary in Globe & Mail
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Post by MightyPoPo on Feb 07, 2023 1:03pm

Summary in Globe & Mail

A good summary pulled together by the Globe & Mail

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LAC surged after a U.S. judge ordered regulators to reconsider part of the permit approving its Thacker Pass lithium mine project in Nevada, though the mixed ruling rejected claims that the project would cause unnecessary harm to the environment or wildlife.

The proposed mine would be North America’s largest source of lithium for electric vehicle batteries and a key pillar in President Joe Biden’s efforts to wean his country off Chinese supplies of the metal.

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GM signed a US$650-million deal last week to help develop the project, an agreement that hinges in part on a positive outcome in the long-running court case.

In a 49-page ruling, Chief Judge Miranda Du of the federal court in Reno, Nevada, ordered the U.S. Bureau of Land Management (BLM) to determine whether Lithium Americas has the right to dump waste rock at the site.

Du, however, did not vacate a 2021 decision by former President Donald Trump to approve the mine. The ruling can be appealed.

Much of the U.S. mining industry is ruled by an 1872 law that gives companies wide berth to extract metals on federal lands. However, a court ruled last year that miners do not necessarily have the right to store waste rock or erect buildings on federal land not containing valuable minerals.

Du ordered the BLM to determine whether roughly 1,300 acres at the Thacker Pass site where Lithium Americas hopes to store waste rock contains lithium. Du did not issue a time limit for the new review. Federal officials had told the court last month that they did not believe fresh studies were warranted.

Du also rejected claims from the Reno Sparks Indian Colony and other Native American tribes that they were not properly consulted about the project and its potential effects on cultural and historical sites.

The favorable ruling by the federal court leaves in place the final regulatory approval needed in moving Thacker Pass into construction, Jonathan Evans, chief executive officer of Lithium Americas, said in a statement.

Comment by deepblue on Feb 07, 2023 1:08pm
Another ALB in the making.
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