Lithium Americas Raises Thacker Pass Phase 1 Capital Cost Estimate to $3.83 Billion

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Lithium Americas Corp. (NYSE:LAC) has increased its estimated capital cost for Phase 1 of the Thacker Pass lithium project in Humboldt County, Nevada, to $3.83 billion, representing a $900 million increase from its previous estimate of $2.93 billion.

The revised estimate reflects higher labour costs, tariffs, logistics expenses, engineering and construction management requirements, and additional contingency provisions.

Despite the increase in projected expenditure, Lithium Americas continues to target mechanical completion of Phase 1 in late 2027, with commercial production ramp-up expected during 2028.

The project is designed to produce 40,000 tonnes of battery-quality lithium carbonate annually once it reaches full operating capacity.

Lithium Americas revised its Phase 1 capital expenditure estimate from $2.93 billion to $3.83 billion, an increase of approximately 30.7%.

The company attributed the higher estimate to several factors affecting construction and project execution.

Tariffs and logistics expenses are expected to contribute approximately $100 million to the increase, while inflation in craft labour wage rates accounts for approximately $150 million.

Higher labour installation rates for piping, structural steel and equipment are expected to add approximately $245 million.

Additional engineering, procurement and construction management staffing requirements are estimated at approximately $100 million, while contractor staff wage inflation is expected to contribute another $150 million.

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