{ "commitment": { "id": "fin-us-doe-thacker-pass-atvm-2024", "eventId": "evt-us-doe-thacker-pass-loan-2024", "relationships": [], "instrument": "loan", "valueRole": "commitment", "capitalSource": "public", "amount": { "value": "2230000000", "currency": "USD", "qualifier": "approximately", "amountAsStated": "$2.23 billion amended expected loan amount ($1.97 billion principal plus approximately $256 million capitalized interest)", "currencyBasis": "stated" }, "provider": "U.S. Department of Energy, ATVM Loan Program (Federal Financing Bank lending arrangements)", "providerJurisdiction": "us", "providerOrgIds": [ "org-us-doe" ], "legalAuthority": "Energy Independence and Security Act of 2007 — Advanced Technology Vehicles Manufacturing (ATVM) Loan Program", "programmeId": null, "recipient": "Lithium Nevada LLC (formerly Lithium Nevada Corp.)", "recipientOrgIds": [ "org-lithium-nevada-llc" ], "project": "Thacker Pass Phase 1 lithium carbonate processing facilities", "projectId": "prj-us-thacker-pass-phase1-processing", "facility": "Thacker Pass Phase 1 processing plant and associated infrastructure", "locations": [ { "countryCode": "US", "subnational": "Nevada", "asStated": "Thacker Pass, Humboldt County, Nevada" } ], "stages": [ "processing" ], "stageAllocation": "single_stage", "materialIds": [ "lithium" ], "materialAttribution": "tracked_only", "untrackedMaterialsAsStated": [], "financialStatusHistory": [ { "status": "contracted", "date": "2024-10-28", "sourceId": "src-sec-lac-thacker-loan-agreement-2024", "note": "Executed ATVM Loan Arrangement and Reimbursement Agreement No. A1034 on 28 October 2024, originally naming Lithium Nevada Corp. Original approx. $2.26B face amount was later revised; no draw inferred from closing." }, { "status": "partially_disbursed", "date": "2025-10-20", "sourceId": "src-sec-lac-thacker-q2-2026", "note": "First $435M DOE-loan advance received on 20 October 2025. Issuer's 2026 Q2 filing confirms subsequent draws of $432M (24 February 2026) and $342M (3 June 2026), totaling $1.209B advanced by 30 June 2026. These are draws under the same facility, not additive commitments." } ], "implementationStatusHistory": [ { "status": "construction", "date": "2026-06-30", "sourceId": "src-sec-lac-thacker-q2-2026", "note": "Issuer's quarter-ended 30 June 2026 report confirms active major construction of Thacker Pass Phase 1 processing plant, $1.6217B cumulative Phase 1 construction costs within the technical-report capital-expenditure estimate and targeting late-2027 mechanical completion. No commissioning or operating output is evidenced." } ], "terms": [], "outcomes": [], "evidence": [ { "sourceId": "src-doe-thacker-pass-2024", "supports": [ "instrument", "value_role", "capital_source", "amount", "provider", "recipient", "project", "facility", "location", "stages", "materials" ], "evidence": "explicit", "locator": "Project summary; Financial summary and Loan type", "note": "DOE October 2024 baseline is about $2.26B including capitalized interest. The bank project page has not been updated for the Oct 2025 amendment and is not used as the current amount." }, { "sourceId": "src-doe-thacker-pass-nepa-2024", "supports": [ "legal_authority", "project", "facility", "location", "stages", "materials" ], "evidence": "explicit", "locator": "DOE/EIS-0561 Summary; loan restricted to processing facilities and associated infrastructure, not open-pit mine", "note": "Constrains funded project and single-stage processing attribution." }, { "sourceId": "src-sec-lac-thacker-loan-agreement-2024", "supports": [ "instrument", "value_role", "capital_source", "provider", "legal_authority", "recipient", "project", "status" ], "evidence": "explicit", "locator": "Cover, Preliminary Statements, and agreement parties; 28 October 2024", "note": "Legal contract names DOE and Lithium Nevada Corp. borrower. Contract scope is executed loan arrangement with Federal Financing Bank advance mechanics." }, { "sourceId": "src-sec-lac-thacker-amendment-2025", "supports": [ "provider", "recipient", "status" ], "evidence": "explicit", "locator": "Opening paragraph: Lithium Nevada LLC (formerly Lithium Nevada Corp.) as Borrower; 7 October 2025 OWCA", "note": "This is an amendment to the 2024 loan, not a separate second loan; corporate name continuity is express." }, { "sourceId": "src-sec-lac-thacker-q2-2026", "supports": [ "amount", "recipient", "project", "facility", "location", "stages", "materials", "status" ], "evidence": "explicit", "locator": "Note 4 — Department of Energy Loan Facility; MD&A pp. 23–28 and 'Borrowings under the DOE ATVM Loan Program'", "note": "Issuer states October 2025 amended expected facility $2.23B and the dates/amounts of all three advances; separately verifies ongoing Phase 1 processing-plant construction." }, { "sourceId": "src-sec-lac-doe-amendment-announcement-2025-10-07", "supports": [ "amount", "status" ], "evidence": "explicit", "locator": "Form 8-K Item 1.01 and Exhibit 99.1", "note": "Source establishes signed conditional amendment and approximately $2.23B proposed revised total, not October 7 effectiveness." } ], "notes": "Single DOE ATVM/FFB loan, No. A1034. The original 28 October 2024 closing was approximately $2.26B ($1.97B principal plus an estimated $289.6–$289.7M capitalized interest); the 7 October 2025 amendment reduced estimated interest to $256M, making the amended total approximately $2.23B. These are versions of the same facility, not two commitments; the current amount is approximate ($1.97B + $256M = $2.226B before rounding). The schema holds a current amount and financial-status history, not historically versioned amounts: an as-of 2024 report must not present $2.23B as the contemporaneous 2024 face amount. Cumulative advances were $435M on 2025-10-20, $867M after 2026-02-24, and $1.209B after 2026-06-03; the $1.209B is not additional finance and is different from the $988.018M accounting carrying value after deferred issuance costs/interest. Original legal borrower Lithium Nevada Corp. is now Lithium Nevada LLC, distinct from its Canadian-listed sponsor Lithium Americas Corp. DOE loan supports lithium-carbonate processing infrastructure (including a sulfuric-acid plant), not open-pit mine development. Q2 2026 supports construction only; no operational production. DOE's 2025 equity warrants, GM equity and private financing are not classified as draws or additional DOE commitments. F4-A amount-history pilot retains original ~$2.26B effective from 2024-10-28. The ~$2.23B amendment was signed on 2025-10-07 subject to conditions and is proven effective no later than first advance on 2025-10-20; the precise transition date within October 7–19 is not evidenced. This is not a draw-history or historical aggregate.", "lifecycleReview": { "financialStatusCheckedAt": "2026-10-08", "implementationStatusCheckedAt": "2026-10-08" }, "financialAmountHistory": [ { "amount": { "value": "2260000000", "currency": "USD", "qualifier": "approximately", "amountAsStated": "$2.26 billion at October 2024 loan closing, including $1.97 billion principal and $289.7 million estimated capitalized interest", "currencyBasis": "stated" }, "effectiveNotBefore": "2024-10-28", "effectiveNoLaterThan": "2024-10-28", "sourceId": "src-doe-thacker-pass-2024", "locator": "DOE project statistics, financial summary, loan amount and October 2024 update", "reason": "original", "note": "Executed direct loan initially totaled approximately $2.26 billion including capitalized interest, not a separate loan from later amendments.", "effectiveNotBeforeEvidence": { "sourceId": "src-sec-lac-thacker-loan-agreement-2024", "locator": "Executed loan agreement — October 28, 2024 agreement date" }, "effectiveNoLaterThanEvidence": { "sourceId": "src-sec-lac-thacker-loan-agreement-2024", "locator": "Executed loan agreement — October 28, 2024 agreement date" } }, { "amount": { "value": "2230000000", "currency": "USD", "qualifier": "approximately", "amountAsStated": "$2.23 billion amended expected loan amount ($1.97 billion principal plus approximately $256 million capitalized interest)", "currencyBasis": "stated" }, "effectiveNotBefore": "2025-10-07", "effectiveNoLaterThan": "2025-10-20", "sourceId": "src-sec-lac-doe-amendment-announcement-2025-10-07", "locator": "Form 8-K Item 1.01 and Exhibit 99.1; Q2 2026 Form 10-Q Note 4 for first draw October 20", "reason": "amendment", "note": "Signed October 7, 2025 subject to conditions precedent; exact effective day unverified. Initial October 20 advance establishes the amendment effective no later than then. Withhold historical amount selection for October 7–19.", "effectiveNotBeforeEvidence": { "sourceId": "src-sec-lac-doe-amendment-announcement-2025-10-07", "locator": "Form 8-K Item 1.01 — agreement entered October 7, 2025; conditions precedent to effectiveness" }, "effectiveNoLaterThanEvidence": { "sourceId": "src-sec-lac-thacker-q2-2026", "locator": "Form 10-Q Note 4 / MD&A — first DOE loan advance October 20, 2025" } } ] }, "event": { "id": "evt-us-doe-thacker-pass-loan-2024", "date": "2024-10-28", "jurisdiction": "us", "titleEn": "DOE closes ATVM loan for Thacker Pass lithium processing facilities" }, "parents": [], "children": [], "sources": [ { "id": "src-doe-thacker-pass-2024", "title": "Thacker Pass — DOE Loan Programs Office project and financial summary", "publisher": "U.S. Department of Energy, Loan Programs Office", "url": "https://www.energy.gov/edf/thacker-pass", "language": "en", "datePublished": null, "dateAccessed": "2026-10-08", "sourceType": "official", "confidence": "primary", "notes": "Official DOE project page, marked last updated October 2024: $2.26 billion ATVM direct-loan facility including $1.97B principal and about $289.7M capitalized interest, borrower then Lithium Nevada Corp, Phase 1 lithium-carbonate processing facilities in Humboldt County, Nevada. This is original closing-era amount and should not be used as the 2026 amended amount or as a disbursement." }, { "id": "src-doe-thacker-pass-nepa-2024", "title": "EIS-0561 Thacker Pass loan: DOE processing-facility-only scope and 28 October 2024 decision", "publisher": "U.S. Department of Energy", "url": "https://www.energy.gov/nepa/doeeis-0561-thacker-pass-lithium-mine-project", "language": "en", "datePublished": "2024-10-28", "dateAccessed": "2026-10-08", "sourceType": "official", "confidence": "primary", "notes": "DOE NEPA explanation specifies that the proposed loan covers Thacker Pass mine processing facilities and associated infrastructure, not the development and operation of the open-pit mine. DOE Record of Decision issued 28 October 2024." }, { "id": "src-sec-lac-thacker-loan-agreement-2024", "title": "Lithium Americas, Exhibit 10.11 — 28 October 2024 ATVM Loan Arrangement and Reimbursement Agreement", "publisher": "Lithium Americas Corp. / U.S. Securities and Exchange Commission (EDGAR)", "url": "https://www.sec.gov/Archives/edgar/data/1966983/000095017025046424/lac-ex10_11.htm", "language": "en", "datePublished": null, "dateAccessed": "2026-10-08", "sourceType": "other", "confidence": "primary", "notes": "Executed Loan Arrangement and Reimbursement Agreement dated 28 October 2024, loan number A1034, between DOE and LITHIUM NEVADA CORP. as Borrower. Federal Financing Bank advance arrangements occur under the ATVM legal mechanics, not as another project loan. Document exhibited to issuer SEC filing in 2025; agreement date is not its SEC publication date." }, { "id": "src-sec-lac-thacker-amendment-2025", "title": "Lithium Americas, Exhibit 10.1 — 7 October 2025 omnibus DOE loan amendment", "publisher": "Lithium Americas Corp. / U.S. Securities and Exchange Commission (EDGAR)", "url": "https://www.sec.gov/Archives/edgar/data/1966983/000119312526115081/lac-ex10_1.htm", "language": "en", "datePublished": null, "dateAccessed": "2026-10-08", "sourceType": "other", "confidence": "primary", "notes": "Omnibus Waiver, Consent and Amendment No. 2 dated as of 7 October 2025 identifies LITHIUM NEVADA LLC (formerly Lithium Nevada Corp.) as the same Nevada borrower and Lithium Americas Corp as Sponsor. A revised legal agreement to the existing 2024 facility, not a second DOE loan. Published as an issuer exhibit in 2026." }, { "id": "src-sec-lac-thacker-q2-2026", "title": "Lithium Americas Corp., Form 10-Q for the quarter ended 30 June 2026", "publisher": "Lithium Americas Corp. / U.S. Securities and Exchange Commission (EDGAR)", "url": "https://www.sec.gov/Archives/edgar/data/1966983/000119312526347826/lac-20260630.htm", "language": "en", "datePublished": "2026-08-13", "dateAccessed": "2026-10-08", "sourceType": "other", "confidence": "primary", "notes": "DOE Loan Note 4 and MD&A pages 23–28: original 2024 loan $2.26B ($1.97B principal plus estimated $289.6M interest), amended Oct 7 2025 expected total $2.23B ($1.97B principal plus estimated $256M interest). Three cash advances $435M Oct 20 2025, $432M Feb 24 2026, $342M Jun 3 2026; cumulative advances $1.209B by Jun 30 2026. This cumulative amount is within, not in addition to, the facility; carrying amount $988.018M reflects debt costs and accrued interest and is not cumulative cash advanced. Thacker Pass Phase 1 plant construction ongoing, not operational." }, { "id": "src-sec-lac-doe-amendment-announcement-2025-10-07", "title": "Lithium Americas Form 8-K — 7 October 2025 DOE amendment subject to conditions", "publisher": "Lithium Americas Corp. / U.S. Securities and Exchange Commission (EDGAR)", "url": "https://www.sec.gov/Archives/edgar/data/1966983/000119312525233937/d10878d8k.htm", "language": "en", "datePublished": "2025-10-08", "dateAccessed": "2026-10-08", "sourceType": "other", "confidence": "primary", "notes": "SEC EDGAR accession 0001193125-25-233937 filed and accepted October 8, 2025; period of report and amendment execution October 7, 2025. Item 1.01: omnibus waiver, consent and amendment was entered October 7 but becomes effective only upon satisfaction of conditions precedent. Exhibit 99.1 describes revised expected $2.23B facility. Subsequent Q2 2026 issuer 10-Q separately confirms initial advance October 20, proving amended facility operative by (not necessarily on) that day." } ] }