Lithium Americas to spend up to $1.6 billion for Thacker Pass Phase 1 in 2026

Feb 19 (Reuters) - Lithium Americas LAC.TO said on Thursday capital expenditures for Phase 1 of its Thacker Pass lithium project will range between $1.3 billion and $1.6 billion in 2026, as the Canadian miner accelerates construction at the Nevada site toward a late-2027 completion target.

The Nevada-based project is a joint venture between Lithium Americas and U.S. automaker General Motors GM.N and holds enough lithium to build 1 million electric vehicles annually.

The company estimated Phase 1 construction costs between $1.2 billion and $1.5 billion, along with other capitalized development costs of $30 million to $40 million.

Lithium Americas said the construction estimate includes projected tariff exposure for equipment and construction materials sourced from Canada, China, India, the United Arab Emirates, Turkey and the European Union.

The capex outlook also includes capitalized interest on a U.S. Department of Energy loan of $45 million to $55 million.

Lithium Americas previously secured $2.23 billion in financing from the DOE's loan programme, supplemented by strategic investments from General Motors and Orion Resource Partners.

Last year, the DOE also took a 5% stake in Lithium Americas and a separate 5% stake in the Thacker Pass project.