Mine / resource · USA

Thacker Pass

ConstructionVerified 24 Oct 2026As of 24 Oct 2026
Owner
Thacker Pass JV: Lithium Americas 62% (manager), GM 38%; DOE holds an unexercised warrant for a 5% non-voting JV interest
Listed via
LAC
Product
Li₂CO₃
Deposit type
Clay
Capacity
Phase 1: 40 ktpa Li₂CO₃ nameplate; mechanical completion targeted late 2027
≈ 40 kt LCE/yr (planned)
Location
41.70°, -118.03°
Source
Filing used for verification

Phase 1 under construction with 1,600+ workers on site; grid energization on track for Q4 2026 and mechanical completion targeted for late 2027.

Ownership structure

Effective economic interest of listed owners · As of 24 Oct 2026
Lithium AmericasLAC62%Other / unlisted38%Thacker PassMine / resource

Attributable capacity

Listed ownerStakekt LCE/yr
Lithium Americas LAC62%≈25

Structure: Thacker Pass JV: Lithium Americas 62% (manager), GM 38%; DOE holds an unexercised warrant for a 5% non-voting JV interest. 38% is held by unlisted or untracked owners.

Value chain

Owners, buyers and the refineries on Li3atlas they feed · As of 24 Oct 2026
Listed ownersLithium AmericasLAC · 62%
Mine / resourceThacker PassPhase 1: 40 ktpa Li₂CO₃ nameplate; mechanical completion targeted late 2027
Buyers (offtakes)General MotorsLithium carbonate · Phase 1: up to 100% of volume (20% of GM's specific lithium requirements); separate 20-year Phase 2 agreement for up to

Resource and mine life

As of 24 Oct 2026
Resource
66.1 Mt LCE
Reserve
14.3 Mt LCE
Grade
2,230 ppm Li (M+I); reserve 2,540 ppm Li
Mine life
85 years
As of
31 Dec 2024

Unit cost

Basis
Technical Report average OPEX, Years 1–25 (effective 31 Dec 2024); not an operating result
Period
Technical Report estimate, Years 1–25

Cost bridge to US$/t LCE

Reported unit cost
USD 6,238/t Li2CO3
Landed cost
$6,238/t LCE

Quartiles appear once 4 operations have a cost.

Integrated chemical producer: the reported cost already covers conversion. The conversion, freight and royalty settings are shared with the cost curve on the map page (Economics).

Position on the cost curve

Landed US$/t LCE, same assumptions as the cost curve · As of 24 Oct 2026
Hombre Muerto West (HMW): $3,963/t LCEQarhan Salt Lake: $4,292/t LCE (implied)Cauchari-Olaroz: $5,897/t LCEYichun lepidolite belt: $6,012/t LCE (implied)Greenbushes: $6,201/t LCEThacker Pass: $6,238/t LCE (Study estimate)Pilgangoora: $7,330/t LCEMibra: $7,416/t LCEWodgina: $7,489/t LCEFinniss: $7,913/t LCEZabuye Salt Lake: $8,265/t LCE (implied)Mt Marion: $9,166/t LCEGrota do Cirilo: $9,503/t LCEKathleen Valley: $10,203/t LCENorth American Lithium: $11,166/t LCE$11,1660

Study estimate Thacker Pass: $6,238/t LCE · would be cheaper than about 57% of today's producing supply

Grey: every producing mine with a cost (width = capacity). Highlighted: this asset. Lighter dashed bars are implied costs (no reported unit cost). Projects are drawn as dashed outlines at their study cost; they are not producing and not in the percentages.

Milestones

As of 24 Oct 2026

Upcoming (4)

  • Q4 2026Thacker Pass Phase 1 energizationOther · source
  • 2027Winnemucca Transload Terminal completionOther · source
  • H2 2027Thacker Pass Phase 1 mechanical completionOther · source
  • 2028Thacker Pass Phase 1 full ramp-upOther · source

Completed (9)

  • 5 Aug 2026Yorkville subordinated convertible debentures (up to US$175M; US$150M initial)Financing · source
  • 3 Jun 2026Third DOE loan advance (US$342M; cumulative US$1.209B)Financing · source
  • 24 Feb 2026Second DOE loan advance (US$432M)Financing · source
  • 30 Jan 2026DOE warrants issued: 5% of LAC shares and 5% non-voting JV interestOther · source
  • 20 Oct 2025First DOE loan drawdown (US$435M)Financing · source
  • 8 Oct 2025October 2025 ATM equity program (US$246.4M net)Financing · source
  • 7 Oct 2025DOE loan amendment (OWCA): loan US$2.23B, DOE warrants for 5% of LAC and 5% of JVFinancing · source
  • 1 Apr 2025Thacker Pass Phase 1 final investment decision (LAC and GM)FID · source
  • 1 Apr 2025Orion US$250M strategic investment closedFinancing · source

Offtakes and supply chain

As of 24 Oct 2026

Sells to

  • General MotorsLithium carbonate · Phase 1: up to 100% of volume (20% of GM's specific lithium requirements); separate 20-year Phase 2 agreement for up to · 20 years · source

Country risk · USA

Policy risk: Low As of 24 Oct 2026

Change history

Approved changes with their source · As of 24 Oct 2026
DateFieldChangeSource
24 Oct 2026Offtakenew: General Motors · Lithium carbonate · Phase 1: up to 100% of volume (20% of GM's specific lithium requirements); separate 20-year Phase 2 agreement for up to · 20 years ActiveLithium Americas Corp. Annual Report on Form 10-K for FY2025 (SEC EDGAR, 19 Mar 2026)
24 Oct 2026Mine lifenew: 85Lithium Americas Corp. Annual Report on Form 10-K for FY2025 (SEC EDGAR, 19 Mar 2026)
24 Oct 2026Milestonenew: Q4 2026 · Thacker Pass Phase 1 energization Other ExpectedLithium Americas Reports Second Quarter 2026 Results (Form 8-K Ex. 99.1, SEC EDGAR, 13 Aug 2026)
24 Oct 2026Milestonenew: 2028 · Thacker Pass Phase 1 full ramp-up Other ExpectedLithium Americas Corp. Annual Report on Form 10-K for FY2025 (SEC EDGAR, 19 Mar 2026)
24 Oct 2026Milestonenew: 20 Oct 2025 · First DOE loan drawdown (US$435M) Financing CompletedLithium Americas Reports Third Quarter 2025 Results (Form 8-K Ex. 99.1, SEC EDGAR, 13 Nov 2025)
24 Oct 2026Milestonenew: 24 Feb 2026 · Second DOE loan advance (US$432M) Financing CompletedLithium Americas Reports Full Year 2025 Results (Form 8-K Ex. 99.1, SEC EDGAR, 19 Mar 2026)
24 Oct 2026ProductClay → Li₂CO₃Lithium Americas Reports Second Quarter 2026 Results (Form 8-K Ex. 99.1, SEC EDGAR, 13 Aug 2026)
24 Oct 2026Unit costnew: USD 6,238 · Technical Report average OPEX, Years 1–25 (effective 31 Dec 2024); not an operat · Technical Report estimate, Years 1–25Lithium Americas Corp. Annual Report on Form 10-K for FY2025 (SEC EDGAR, 19 Mar 2026)

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