DOE ATVM Loan No. A1034
DOE closes ATVM loan for Thacker Pass lithium processing facilities
Summary
DOE executed an Advanced Technology Vehicles Manufacturing loan agreement on 28 October 2024 with Lithium Nevada Corp. (later Lithium Nevada LLC) to finance Thacker Pass Phase 1 lithium-carbonate processing facilities and related infrastructure in Nevada, excluding the open-pit mine itself. The original approximately $2.26 billion facility ($1.97 billion principal and estimated capitalized interest) was amended in October 2025 to approximately $2.23 billion; three advances totaled $1.209 billion by 30 June 2026. The financing is a single executed and partially disbursed facility, not two loans or four separate commitments. SEC reporting separately establishes ongoing processing-plant construction.
Analytical significance
A large U.S. industrial-finance intervention with distinct legal closing, amended cap, repeated cash advances and verified physical construction. The DOE/FFB loan financing is focused on domestic conversion of lithium-bearing ore into battery-grade lithium carbonate, not federal financing of mine development. Preserve the distinction between announced capacity, binding financing, partial disbursement, and actual construction.
Instruments in this event
The separate financial commitments and control clauses this announcement contains, each with its own status history and evidence.
Framing anchors
Official framing, classified only from quoted passages.
Framing: Not yet coded. No framing category is assigned because this record does not yet carry a verified quoted passage from the primary source. Per the methodology, a framing label is never inferred from context alone.
Affected materials
Related events
Events touching the same materials.
Sources (5)
Thacker Pass — DOE Loan Programs Office project and financial summary
Primary sourceU.S. Department of Energy, Loan Programs Office
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.
https://www.energy.gov/edf/thacker-pass
EIS-0561 Thacker Pass loan: DOE processing-facility-only scope and 28 October 2024 decision
Primary sourceU.S. Department of Energy
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.
https://www.energy.gov/nepa/doeeis-0561-thacker-pass-lithium-mine-project
Lithium Americas, Exhibit 10.11 — 28 October 2024 ATVM Loan Arrangement and Reimbursement Agreement
Primary sourceLithium Americas Corp. / U.S. Securities and Exchange Commission (EDGAR)
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.
https://www.sec.gov/Archives/edgar/data/1966983/000095017025046424/lac-ex10_11.htm
Lithium Americas, Exhibit 10.1 — 7 October 2025 omnibus DOE loan amendment
Primary sourceLithium Americas Corp. / U.S. Securities and Exchange Commission (EDGAR)
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.
https://www.sec.gov/Archives/edgar/data/1966983/000119312526115081/lac-ex10_1.htm
Lithium Americas Corp., Form 10-Q for the quarter ended 30 June 2026
Primary sourceLithium Americas Corp. / U.S. Securities and Exchange Commission (EDGAR)
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.
https://www.sec.gov/Archives/edgar/data/1966983/000119312526347826/lac-20260630.htm
Citation
Cite this record
This cites the record — the project's coding of the instrument. For a claim about what a government actually did, cite the primary document itself; the sources above carry the canonical URLs.
Strategic Materials Policy Tracker. "DOE closes ATVM loan for Thacker Pass lithium processing facilities." Record evt-us-doe-thacker-pass-loan-2024, 2024-10-28. https://strategic-materials-policy-tracker.vercel.app/events/evt-us-doe-thacker-pass-loan-2024