Lithium Americas in talks with US, GM for Nevada mine; shares soar

U.S.-listed shares of Lithium Americas LAC.N jump 70% to $5.22 in premarket trading

Reuters reported on Tuesday that the Trump administration is seeking an equity stake of as much as 10% in LAC as part of talks over a $2.26 bln government loan for co's Thacker Pass lithium mine

*LAC on Wednesday confirmed it is in discussions with the U.S. Department of Energy and General Motors GM.N - its partner in the Thacker Pass JV - regarding first draw on the $2.26 billion loan

The company did not comment on whether U.S. government is mulling the 10% equity stake in co

Nevada-based mine expected to be Western Hemisphere's largest source of lithium

The Trump administration has recently been acquiring stakes in U.S. companies, the latest being Intel INTC.O and MP Materials MP.N

LAC had split its North American and Argentine businesses in November to boost focus on the mine

*News also lifts shares of other lithium miners: Albemarle ALB.N up 4%, Sigma Lithium SGML.O up 5.3%, U.S.-listed shares of SQM SQM.N rise 2.6%

Stock has gained about 3% YTD, till last close