Lithium Americas Corp. announced on March 5, 2025, a strategic investment of $250 million from fund entities managed by Orion Resource Partners LP. This investment is expected to achieve fully funded status at both the project and corporate levels for the development and construction of Phase 1 of the Thacker Pass lithium project.
The investment comprises $195 million in senior unsecured convertible notes and $25 million for a Production Payment Agreement, with an option for an additional $30 million in delayed draw notes. The notes mature in 2030 and bear an initial interest rate of 9.875% per annum.
This funding is expected to satisfy all remaining equity capital fundraising requirements from both the U.S. Department of Energy and General Motors. The company anticipates that this investment will enable it to make an affirmative Final Investment Decision for Thacker Pass Phase 1 concurrently with the closing of the initial $220 million investment.
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