Lithium Americas sponsored this research, and the lead author is Thomas R. Benson, vice-president for global exploration at the company.<\/p>\n In early March, Lithium Americas was granted a lease to produce lithium from Thacker Pass and immediately commenced construction work on the project. In early February, a federal district court judge rejected claims from the Reno-Sparks Indian Colony, the Burns Paiute Tribe and other conservation groups and plaintiffs trying to block construction of the mine. In July, a three-judge panel of the 9th U.S. Circuit Court of Appeals rejected an appeal of the district court ruling.<\/p>\n What makes the Thacker Pass site so rich is the concentration of lithium in the illite rock at the southern end of the McDermitt caldera, a volcano that erupted some 15 million to 17 million years ago. According to the researchers, illite rock contains 7,250 parts per million (ppm) of lithium, more than double the concentration in the smectite rock at the north end of the caldera.<\/p>\n The amount of lithium in the bare rock from Thacker Pass ranged from 1.3% to 2.4% by weight. Lithium concentration in the salt deposits of Chile is around 0.6%. Once the rock is concentrated, the illite concentrate contains 12,050 ppm of lithium, by far the highest concentration of the metal among the clay rocks that were tested.<\/p>\n An average battery in an electric vehicle (EV) uses about 8 kg (about 17 pounds) of lithium. The U.S. Geological Survey estimates world reserves of around 26 million tons of lithium. That is enough lithium for around 3 billion average EVs (longer-range batteries use more lithium). And that is before the USGS factors in the new numbers from Thacker Pass.<\/p>\n General Motors will invest $650 million in Lithium Americas by the end of this year. In exchange, GM received exclusive access to first-phase production (40,000 metric tons per year) at Thacker Pass and the right of first offer on second-phase production (another 40,000 metric tons) at the site. First-phase production is scheduled to begin in the second half of 2026.<\/p>\n Sponsored: Tips for Investing<\/b><\/p>\n A financial advisor can help you understand the advantages and disadvantages of investment properties. Finding a qualified financial advisor doesn\u2019t have to be hard. SmartAsset\u2019s free tool matches you with up to three financial advisors who serve your area, and you can interview your advisor matches at no cost to decide which one is right for you. If you\u2019re ready to find an advisor who can help you achieve your financial goals, get started now.<\/p>\n Investing in real estate can diversify your portfolio. But expanding your horizons may add additional costs. If you\u2019re an investor looking to minimize expenses,\tconsider checking out online brokerages. They often offer low investment fees, helping you maximize your profit.<\/p>\n![](\"https:\/\/247wallst.com\/wp-content\/uploads\/2023\/09\/Thacker_Pass_BLMmap.jpg?w=645\")
Source: U..S. Bureau of Land Management<\/span><\/p>\n