Lithium Americas Raises Lithium Mine Construction Costs to $3.83 Billion

Lithium Americas Corp. has raised the construction costs for its Thacker Pass lithium mine project in Nevada by nearly $900 million, bringing the total to $3.83 billion. The increase is attributed to tariffs from the Trump administration, rising labor costs, and increased logistics expenses. The rising costs of the project have caused the company's stock price to hit a historical low. The initial estimated construction cost for the first phase of the project was $2.93 billion. The project has received $2.3 billion in loan support from the federal government, which was provided during the presidency of Joe Biden, and the current administration has attempted to convert it into equity.