Lithium Americas (NYSE:LAC)+3% pre-market after expanding the mineral resource estimate at its Thacker Pass project in Nevada to 13.7M metric tons of lithium carbonate equivalent and raising planned Phase 1 capacity to target 40K mt/year of lithium carbonate.
The company says it is raising initial Phase 1 targeted capacity from 30K-35K mt/year to reflect the optimized mine plan and leaching efficiencies with the proposed 3K mt/day sulfuric acid plant unchanged.
Lithium Americas says a feasibility study will incorporate a potential Phase 2 expansion scenario to target total capacity of 80K mt/year to meet potential partner and customer demand.
The company says the Thacker Pass permitting process is on track, with a final decision expected in Q1 2022.