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

Richmond RCMP investigating 3 vehicle collision between BC Highway Patrol and Vancouver arson suspects

The driver of the commercial vehicle was transported to hospital for treatment of non-life threatening injuries. Three occupants from the third vehicle involved were taken into custody. The circumstances leading up to the collision are still under investigation.

Richmond RCMP investigating 3 vehicle collision between BC Highway Patrol and Vancouver arson suspects

More Vancouver police to patrol soon: mayor-elect Sim

Ken Sim, who takes office Nov. 7, said Monday that adding the officers and the same number of mental-health nurses is one of the top priorities in his party's 94-point platform, alongside accelerating property permitting and making more daycare spaces available.

More Vancouver police to patrol soon: mayor-elect Sim

Man shot dead near University of B.C. golf course

Sgt. Timothy Pierotti, with the Integrated Homicide Investigation Team, says they responded to shots fired Monday and found a man suffering from gunshot wounds who later died. While police have identified the victim, Pierotti says they won't be releasing more details about him, other than to say he is 38 years old.

Man shot dead near University of B.C. golf course

Feds ask banks to help make carbon-price rebate deposits more clear

Ottawa is trying to make the rebates more visible by sending them directly to people every three months rather than incorporating them into annual tax refunds. But when the first new deposits went out in July, most financial institutions dropped them into accounts with labels like "Canada Fed" or "EFT Credit Canada."

Feds ask banks to help make carbon-price rebate deposits more clear

More heat records in B.C., but rain is forecast

The weather office says other records for the day were set along the south, central and north coasts, and through the central Interior and southeastern B.C. Many regions of the province have had no rain in October and no significant precipitation since early July, prompting severe drought conditions, but forecasters are calling for showers and possible snowflurries in Fort Nelson by Friday.

More heat records in B.C., but rain is forecast

13 years for Amanda Todd's tormentor

Justice Martha Devlin of the B.C. Supreme Court says Aydin Coban's calculated conduct caused the girl mental anguish and social isolation, contributing to her suicide after he told Todd he would ruin her life. The sentence is longer than the 12 years suggested by the Crown, but Devlin said Coban's conduct calls for "sharp rebuke."