National

GM to invest US$650 million in Lithium Americas

Darpan News Desk The Canadian Press, 31 Jan, 2023 10:57 AM

VANCOUVER - General Motors Co. has signed a deal to invest US$650 million in Lithium Americas Corp. which is developing the Thacker Pass lithium project in Nevada.

Under the agreement, GM will receive exclusive access to Phase 1 production from the mine through a binding supply agreement and a right of first offer on Phase 2 production.

Lithium is a key component in batteries used by electric vehicles.

In the first tranche of the investment deal, GM spend US$320 million for 15 million shares or a 9.999 per cent stake in Lithium Americas.

The automaker will make a second investment worth US$330 million in the company’s U.S. business following a separation of its U.S. and Argentine businesses.

Phase 1 production at Thacker Pass is expected to start in the second half of 2026.

Prev Next

MORE National ARTICLES

Taxes on banks to raise billions: PBO

The documents calculated the expected revenues from the Canada Recovery Dividend and a proposed permanent increase to corporate taxes on banks and life insurance groups. The PBO said the dividend — a one-time 15 per cent windfall tax on banks and life insurers profits made during the pandemic — will generate $3 billion.

Taxes on banks to raise billions: PBO

B.C. report notes ways to curb prolific offenders

There are more than two dozen recommendations in their report aimed at the provincial prosecution service and the courts, saying it isn’t sustainable for police to continue to bear the main responsibility to manage prolific offenders. Public Safety Minister Mike Farnworth says the government will start with the return of a prolific offenders management program.

B.C. report notes ways to curb prolific offenders

Darpan's 10: Randeep Gill, MD

The Medical Advisory Committee was created to facilitate full representation across all the departments of the hospital, so that we can tap into the wisdom and expertise of all those voices. Essentially, we’re creating an advocacy group amongst the physicians practising in SMH.

Darpan's 10: Randeep Gill, MD

Stats Canada says Canada's homeownership rate fell in latest 2021 census release

The decline in homeownership rates between 2011 and 2021 was the largest for younger Canadians, with the rate falling to 36.5 from 44.1 for those between the ages of 25 and 29. Canadians between the ages of 30 and 34 experienced a similar but slightly smaller decline in homeownership, falling to 52.3 per cent from 59.2 per cent.

Stats Canada says Canada's homeownership rate fell in latest 2021 census release

Injured man left in vehicle identified as 27 year old Richard Ofosuhene, of Edmonton

Homicide investigators say 27-year-old Richard Ofosuhene of Edmonton was found Tuesday, injured and unconscious, in the driver's seat of a running vehicle on a Surrey street. Police say Ofosuhene was known to police and had ties to drug trafficking in Alberta but they believe his homicide is an isolated incident.

Injured man left in vehicle identified as 27 year old Richard Ofosuhene, of Edmonton

Trudeau still favoured as PM over Poilievre: poll

The poll shows support for the Liberals fell a dramatic five points since early August, while the Tories gained six points. The NDP also rose by two and the People's Party of Canada fell by two. The poll suggests the Liberals' popularity has declined since one year ago, when Trudeau was re-elected for a second time to form a minority government.