PALM BEACH, Fla., Sept. 25, 2025 (GLOBE NEWSWIRE) — FN Media Group News Commentary – Lithium is a critical mineral needed to produce batteries, which are vital for America’s national security and economic resilience. The current EV battery supply chain has a global footprint, with battery minerals traveling an average of 50,000 miles from extraction to battery cell production. The U.S. currently produces less than 1% of the global supply of lithium. An over reliance on foreign critical minerals could jeopardize U.S. defense capabilities, infrastructure development and technological innovation. Lithium Americas has previously closed a $2.26 billion loan from the U.S. Department of Energy under the Advanced Technology Vehicles Manufacturing Loan Program for financing the construction of the processing facilities at Thacker Pass. According to Reuters, Washington is seeking an equity stake of as much as 10% in Lithium Americas as it renegotiates terms of the company’s $2.26 billion Energy Department loan for its Thacker Pass lithium project with General Motors, two people familiar with the discussions told Reuters. The proposed stake is the latest example of the Trump administration intervening directly in the American economy as it has in taking stakes in Intel MP Materials and other U.S. tech and minerals firms to promote industries it sees as critical to national security. The project has long been touted by both Republicans and Democrats as a key way to boost U.S. critical minerals production and cut reliance on China, the world’s largest lithium processor. Active Companies in the mining industry this week include US Critical Metals Corp. (OTCQB: USCMF) (CSE: USCM), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC), Albemarle Corporation (NYSE: ALB), Standard Lithium Ltd. (NYSE American SLI) (TSXV: SLI), Sigma Lithium Corporation (NASDAQ: SGML).
The loan has a 24-year term, with interest rates based on the U.S. Treasury rate as each tranche is drawn. The first draw on the loan was slated to be made earlier this month but Washington officials sought to renegotiate terms amid concerns about the company’s ability to repay the loan given low lithium prices due to Chinese overproduction, according to the sources. General Motors, which is relying on Thacker Pass to supply much of its lithium needs for its electrification push called the loan a “necessary part of the financing to commercialize this important national resource” and noted that the current administration previously “strongly supported” the mine in an earlier term. “We’re confident in the project, which supports the administration’s goals,” a GM spokesperson told Reuters. Lithium Americas declined to comment on the ongoing negotiations, but said: “We respect the LPO’s decision to pursue a restructure and remain in active discussions with the (Department of Energy) and our partner, GM, and will provide an update at the appropriate time.”
US Critical Metals Corp. (OTCQB: USCMF) (CSE: USCM) Announces Extension of Option Agreement for McDermitt East Lithium Project Amid Government Interest in Thacker Pass – US Critical Metals Corp. (FSE: 0IU0) (“USCM” or the “Company”) is pleased to announce that it has received a six-month extension (the “Extension”) to satisfy obligations that were due on the second year anniversary of the Option and Exploration Agreement (the “Agreement”) for the McDermitt Lithium East Project (“McDermitt East” or the “Project”), located on the eastern margin of the McDermitt Caldera in Nevada. The Agreement provides the Company with the option to acquire up to a 50% interest in the Project and a further option to acquire an additional 25% interest for an aggregate total of 75% interest in the Project. In consideration for the Extension, USCM will issue an additional 167,000 common shares to Live Energy Minerals Corp. (“LIVE”) pursuant to the terms of the Extension. The shares are being issued at a deemed value of $0.30. All common shares will be subject to a statuary 4-month hold period. Closing of the Extension is subject to acceptance of the Extension by the Canadian Securities Exchange (the “CSE”).
This development comes as the Trump administration has signaled strong federal backing for US lithium production, including discussions to acquire an equity stake in Lithium Americas as part of loan revisions to support the Thacker Pass project—the largest known lithium deposit in North America.
USCM previously reported sampling results of up to 2,129 ppm lithium at McDermitt East, underscoring the Project’s potential as part of a strategically vital U.S. lithium district.
Darren Collins, CEO of USCM, commented: “The extension for McDermitt East ensures we maintain a strong foothold in one of the most prospective lithium regions in the U.S. In addition, the U.S. federal interest in Thacker Pass validates the significance of this district, and we believe our asset positions will deliver meaningful long-term value for shareholders.”
Project Overview – The Project is located within the McDermitt Caldera, an extinct 40×30 km super-volcano formed approximately 16.3 million years ago (Ma) as part of a hotspot currently underneath the Yellowstone Plateau. Following an initial eruption and concurrent collapse of the McDermitt Caldera, a large lake formed in the caldera basin. This lake water was extremely enriched in lithium and resulted in the accumulation of lithium-rich clays.
Late volcanic activity uplifted the caldera, draining the lake and bringing the lithium-rich moat sediments to the surface resulting in the near-surface lithium present on the Project. The McDermitt Caldera is potentially one of the largest sources of lithium clays in the world and hosts some of the largest lithium deposits in the USA including the Tacker Pass project in the south portion of the Caldera. Continued… Read this full release and additional news for US Critical Metals by visiting: https://uscmcorp.com/news/
Other recent developments in the mining markets include:
Lithium Americas Corp. (NYSE: LAC) (TSX: LAC) recently responded to media reports pertaining to the status of its previously announced $2.26 billion loan from the U.S. Department of Energy (the “DOE” / “DOE Loan”). The Company is in discussions with the DOE and General Motors Holdings LLC (“GM”), its joint venture partner in the Thacker Pass lithium project (“Thacker Pass” or the “Project”), regarding first draw on the DOE Loan. The topics of these discussions include certain conditions precedent to draw on the DOE Loan and associated loan specifics, as well as incremental requests from the DOE for potential further conditions to first draw and/or potential amendments to the DOE Loan and associated transaction documents, including corresponding consideration. The Company continues to work with the DOE and GM regarding proposals for a mutually agreeable resolution.
Lithium Americas is developing Thacker Pass located in Humboldt County in northern Nevada, which hosts the largest known measured lithium resource (Measured and Indicated) and reserve (Proven and Probable) in the world. Thacker Pass is owned by a joint venture between Lithium Americas (holding a 62% interest and is the manager of the Project), and GM (holding a 38% interest). The Company is focused on advancing Phase 1 of Thacker Pass toward production, targeting nominal design capacity of 40,000 tonnes per year of battery-quality lithium carbonate. The Company and its engineering, procurement and construction management contractor, Bechtel, entered into a National Construction Agreement (Project Labor Agreement) with North America’s Building Trades Unions for construction of Thacker Pass. Construction is expected to create nearly 2,000 direct jobs, including 1,800 skilled contractors.
Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, recently announced changes to its organizational structure to further align the company for agility and efficiency. These enhancements are designed to accelerate the company’s market-led enterprise strategy and focus on operational excellence.
Mark Mummert will lead an integrated function of resources, manufacturing, capital and supply chain as chief operations officer continuing to report to Kent Masters, Albemarle’s chairman and CEO. In this role, he will ensure optimization of Albemarle’s world-class resources, including joint venture management, as well as global manufacturing. In addition, he will oversee capital projects and supply chain in a fully integrated operating model. With this change, Netha Johnson is leaving the company.
Smackover Lithium, a Joint Venture (“JV”) between Standard Lithium Ltd. (NYSE American SLI) (TSXV: SLI) and Equinor, recently announced a maiden inferred resource for its Franklin Project (the “Project”) in the northeast region of Texas, USA. This report for the JV’s first project in the East Texas region of the Smackover highlights the size and quality of its brine position. It contains the highest reported lithium-in-brine grades in North America and marks a key step towards the ultimate goal of reaching production of over 100,000 tonnes of lithium chemicals per year in Texas through multiple phases. This goal is further supported by two additional projects that the JV is planning to develop in East Texas that roughly triples the size of the portfolio area in the state.
Dr. Andy Robinson, President and COO of Standard Lithium stated, “Our team has been working diligently for the past four years to identify the most attractive areas to secure sizeable, high-quality brine resources in North America, and the Franklin Project provides a strong foundation for future, much larger production in the Smackover that will complement our South West Arkansas Project. Standard Lithium is more than a single project company. We believe East Texas to be a meaningfully underappreciated part of our total asset portfolio and expect this report to be a key initial step towards achieving more appropriate recognition for this world-class asset.”
Sigma Lithium Corporation (NASDAQ: SGML), a leading global lithium producer dedicated to powering the next generation of electric vehicles with carbon neutral, socially and environmentally sustainable lithium concentrate, recently reported its results for the second quarter ended June 30, 2025.
Ana Cabral, Co-Chairperson and CEO, commented: “Our second-quarter performance highlights the strength of Sigma Lithium’s low-cost, large-scale operations and disciplined commercial strategy. We managed to further decrease our costs consolidating our operational resilience. We maintained production cadence at 68kt and are comfortably on track to deliver on our annual production target of 270kt while preserving pricing power in a volatile market —while upholding some of the highest health and safety standards in the battery materials supply chain: we celebrated two years without accidents or fatalities. These results demonstrate our ability to execute consistently, create value through market cycles, and reinforce our leading position as a global integrated industrial and mineral lithium producer”.
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