Donald Trump’s administration is taking a 5 percent equity ownership of mining company Lithium Americas, on top of another 5 percent stake in the company’s joint mining project with GM in Nevada, the Department of Energy announced yesterday. The mine at Thacker Passis expected to become the largest producer of lithium in the Western Hemisphere once it opens in 2028.
Lithium is a crucial component in batteries used for electric vehicles, wind and solar energy storage, and rechargeable devices of all kinds. Both the Biden and Trump administrations have sought to wean the US off foreign imports of lithium. This announcement is the latest step President Trump has taken to assert more control over domestic supply chains for key materials.
The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.