Lithium Americas Corp (NYSE:LAC) (TSX:LAC) shares are trading higher after the company recently reached a non-binding agreement in principle with the U.S. Department of Energy (DOE) to advance the first draw of $435 million on its previously announced $2.26 billion DOE loan.
What Happened: The agreement, reached together with General Motors , LAC’s joint venture partner in the Thacker Pass lithium project, represents a major step forward in securing federal financing for the large-scale domestic lithium operation. The first draw terms mark progress on one of the largest DOE loans in the critical minerals sector.
