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

Health Canada approves Omicron shot

The new shots approved by Health Canada, called bivalent vaccines, are designed to recognize specific mutations in the spike protein of the Omicron BA.1 subvariant. Shipments of the vaccine are expected to arrive in the next few days, and there will be enough supply for all Canadians 18 and older to get a dose this fall and winter, officials said.

Health Canada approves Omicron shot

One man dies in Newtown after an altercation takes place, area blocked off

On Wednesday, at 1:50 p.m., Surrey RCMP responded to 14100-block of 61 Avenue after a report of an altercation between two men. Upon arrival police found an adult male in medical distress. Despite all attempts by first responders to save the man’s life, he succumbed to his injuries on scene.

One man dies in Newtown after an altercation takes place, area blocked off

Suspicious incident being investigated in New Westminster

The passenger is described as a South Asian male, 6’0’ tall, medium build, approximately 35 to 40 years old, with a trimmed beard, and wearing a black jacket. There was no description provided for the driver.

Suspicious incident being investigated in New Westminster

Chilliwack RCMP need the public's help in identifying three children involved in suspicious occurrence at Portage Park

The boys are described as approximately eight to ten years old. It is possible that they had a skateboard and a scooter and departed toward Menzies Street. The girl is approximately eight years old. the man involved in Friday’s incident at Portage Park is not believed to be related to a previous report of suspicious activity on Cedar Creek Drive.

Chilliwack RCMP need the public's help in identifying three children involved in suspicious occurrence at Portage Park

B.C. 911 dispatcher union calls for more funding

Emergency Communications Professionals of BC said in a news release that staffing shortages have forced call takers to work "well beyond" their normal hours, which it believes is unsustainable. The temporary provisions are set to expire Sept. 21, while the added mental health supports end in December, the union said.

B.C. 911 dispatcher union calls for more funding

VPD need public's help in resolving a hit and run that ended up killing a dog

“Based on the information collected so far, there is no question the driver of the SUV knew he hit the dog and its owner,” says Constable Jason Doucette. “Luckily the owner suffered only minor injuries, but the loss of one-and-a-half-year-old Tobi has been devastating for the family.”