Lithium Americas Corp. (LAC) released its 2026 capital‑expenditure guidance for the Thacker Pass lithium project in Nevada, outlining total spending of $1.3 billion to $1.6 billion for the year. Of that amount, $1.2 billion to $1.5 billion is earmarked for Phase 1 construction, $30 million to $40 million covers other development expenses, and $45 million to $55 million is allocated to capitalized interest on the U.S. Department of Energy loan.
The guidance confirms that mechanical completion of the Phase 1 processing plant is on track for late 2027, with full production expected within 6‑12 months thereafter. Peak construction employment is projected to reach roughly 1,800 skilled workers by the end of 2026, reflecting the scale of the build‑out and the company’s commitment to local job creation.
The project is a cornerstone of the U.S. lithium supply chain, targeting a 40,000‑tonne‑per‑year lithium carbonate capacity that will support domestic battery manufacturers. The DOE loan of $2.23 billion, announced in October 2024, underpins the financing, while the joint venture is owned 62 % by LAC and 38 % by General Motors. Community contributions of $8 million, expensed under US GAAP, were included in a prior $2.93 billion capex estimate.
Management highlighted the progress: "2025 was a pivotal year for Lithium Americas and the Thacker Pass Project with Phase 1 construction well underway," said President and CEO Jonathan Evans. He added, "Safety remains our top priority, processing facilities are rising and critical equipment and materials are arriving daily. As planned, we expect to reach peak construction employment of roughly 1,800 skilled craftspeople by year‑end. Lithium market conditions are strengthening just as the project prepares to come online in late 2027, with full ramp‑up through 2028. Thacker Pass represents a unique opportunity to build a secure, resilient North American lithium supply chain. We value our partnership with the federal government and the support of local, state and federal leaders who share our commitment to strengthening America’s energy future."
Engineering and procurement milestones support the guidance: detailed engineering design is 93 % complete and procurement is 60 % complete as of the end of 2025, positioning the project to meet its construction schedule.
The Thacker Pass project employs an acid‑leaching process for clay‑hosted lithium deposits, offering advantages over traditional brine extraction and aligning with U.S. environmental and social governance expectations. The project’s scale—hosting the world’s largest measured lithium resource—positions it to play a pivotal role in the transition to clean energy and electric vehicles.
Overall, the 2026 capex guidance signals strong management confidence in the project’s trajectory, a clear financial roadmap for investors, and a significant step toward a resilient domestic lithium supply chain.
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