Energy Secretary Chris Wright announced on Oct. 1 that the Department of Energy (DOE) is taking a 5 percent stake in Lithium Americas Corp. and another 5 percent stake in the Vancouver-based company’s lithium mine under construction in the Nevada desert—each among efforts of the federal government in its steps toward onshoring critical minerals.
As of 1:40 p.m. EST, shares of Lithium Americas were up by 25.03 percent.
The stock rose 100 percent on Sept. 24 when news broke out that DOE was in talks to take an equity stake in Lithium Americas.
“We want to reduce U.S. dependence on imports of critical materials. Lithium is not top of that list, but it’s on that list,” Secretary Wright said in response to a question from The Epoch Times at the time. “We don’t produce meaningful lithium in the United States today.”…