Page 160 - CW E-Magazine (29-10-2024)

News from Abroad

JOINT VENTURE
General Motors acquires stake in Lithium Americas’

Nevada project

Canada-based mining firm, Lithium
Americas, has informed that American
automotive giant, General Motors (GM),
will contribute $625-mn to their new
joint venture for developing the Thacker
Pass lithium project in Nevada (USA).
The partnership aims to enhance the
domestic supply chain for critical mine-
rals, essential for electric vehicle (EV)
batteries. US automakers are ramping up
their output of EVs and hybrids and aim-
ing to reduce their reliance on China for
battery-related materials.
existing offtake agreement from phase 1 tionists, ranchers and indigenous com-
Lithium Americas said GM will ac- of Thacker Pass to 20 years and includes munities.
quire a 38% asset-level ownership stake an additional 20-year offtake agreement
in Thacker Pass for $625-mn, which in- for up to 38% of phase 2 production volu- Mr. Jonathan Evans, President and
cludes $430-mn of direct cash funding to mes. GM also maintains a right of first CEO of Lithium Americas, emphasised
support the construction of phase 1 and offer on the remaining phase 2 volumes. the strengthened relationship with GM
a $195-mn letter of credit facility. This through this joint venture, which aligns
investment replaces GM’s previously Earlier this year, the US Department with their mutual goal to develop a
planned $330-mn equity investment, of Energy (DoE) had planned to lend robust domestic lithium supply chain.
announced in January 2023, and com- Lithium Americas up to $2.26-bn to build Mr. Jeff Morrison, SVP of Global Pur-
plements GM’s initial $320-mn invest- the Thacker Pass lithium project, which chasing and Supply Chain at GM,
ment, which resulted in the acquisition holds enough of the battery metal to build highlighted the strategic importance of
of approximately 15-million shares of 1-mn EVs annually. The company said it sourcing lithium domestically to manage
Lithium Americas. expects to close the DoE loan in the next battery cell costs and support the EV
few weeks and intends to make the final material supply chain.
Lithium Americas will retain a 62% investment decision for the project by the
interest in Thacker Pass and will manage end of the year. Separately, GM said it would invest
the project. The company has committed $10-mn into material science firm Forge
$387-mn to the joint venture, aligning Initial construction at the site in Nano. The automaker intends to use the
with its ownership percentage. Nevada, started in March 2023 after Lith- firm’s battery material coating on EV
ium Americas won a long-running and cells to increase performance and life-
The collaboration extends GM’s complex court case against conserva- time.

SHIPPING FUEL
Ohmium to develop PEM electrolysers for floating

green ammonia plant in Europe

Ohmium International, a US-based lyser solutions, has announced a collabo- SwitcH2 BV and including partners such
green hydrogen company that offers Proton ration for a green ammonia project led by as BW Offshore Norway AS (BWO), a
Exchange Membrane (PEM) electro- Netherlands-based project developer provider of offshore production solutions.

160 Chemical Weekly October 29, 2024

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