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Lithium Americas Provides Thacker Pass Project Update

LAC
  • Thacker Pass Phase 1 mechanical completion is targeted for late 2027, with ramp-up to commercial production expected in 2028.
  • Once at full capacity, the project will produce a nominal 40,000 tonnes per year of battery-quality lithium carbonate.
  • The updated definitive capital cost estimate for Phase 1 is $3.83 billion, an increase from the previous $2.93 billion.
  • Capital cost increases are attributed to tariffs ($100 million), labor wage inflation ($150 million), labor install rate updates ($245 million), EPCM staffing levels ($100 million), EPCM wage rates ($150 million), and additional contingency ($150 million).
  • Fiscal year 2026 capital expenditure guidance has been raised to a range of $1.7 billion to $2.0 billion.
  • As of September 30, 2026, 4.7 million work hours were completed without a serious injury or lost-time incident.
  • Approximately 1,900 personnel were on site as of September 30, 2026, with numbers expected to rise to 2,200 by year-end 2026.
  • Detailed engineering is complete, procurement is over 90% finished, and over 80% of third-party contract value has been committed.
  • Major structural steel was delivered by the end of August 2026, with piping installation progress at 80% for required materials as of October 2026.
  • The Transload Terminal (TLT) construction is ongoing with rail stabilization at 95% completion, targeted for completion in 2027.
  • An incremental funding requirement of approximately $995 million is anticipated to be met through $650 million in company contributions to the joint venture and $315 million from DOE Loan reserve accounts.
  • The Company reported approximately $1.3 billion in total cash and restricted cash as of September 30, 2026.
  • Cumulative DOE Loan advances reached $1.448 billion following a $239 million advance received in August 2026.
  • The Company issued $150 million in Yorkville Debentures in August 2026, with an option to issue an additional $25 million.
  • Full Q3 2026 financial results are scheduled for release on November 12, 2026.