U.S. Government Boosts Domestic Lithium Production, Invests in Intel
The U.S. government is investing in domestic lithium production and semiconductor manufacturing. It will take a 10 percent stake in Intel and back the Thacker Pass lithium mining project, aiming to reduce reliance on foreign supplies.
The U.S. government is set to acquire a 10 percent stake in Intel. This move comes after the conversion of previously granted government funds. Meanwhile, the Department of Energy is taking a 5 percent equity stake in Lithium Americas, which is developing the Thacker Pass lithium mine in northern Nevada. This project is expected to produce 40,000 metric tons of battery-quality lithium carbonate per year in its first phase, enough to power 800,000 electric vehicles.
The Thacker Pass project is gaining bipartisan support. Both Republicans and Democrats back the project, aiming to decrease U.S. dependence on China for lithium. Construction financing for the project is expected to begin in the fourth quarter of 2025, with the first draw anticipated at $435 million.
The U.S. government's investments in Intel and the Thacker Pass lithium project signal a commitment to boosting domestic production of critical minerals and semiconductors. These moves aim to enhance energy security and reduce reliance on foreign supplies.
