US government takes stake in Canadian lithium miner and its Nevada mining project

The U.S. Department of Energy (DOE) has taken equity stakes in Canadian company Lithium Americas and its Nevada mining joint venture with General Motors as part of a renegotiation of a federal loan.

Under the new terms, the U.S. government will take a 5% equity ownership in Lithium Americas and a 5% ownership in the Lithium Americas-GM joint venture. The equity stakes will be acquired through no-cost warrants, which are financial instruments that give the government the right to purchase shares at a set price. The new terms came out of a…