Lithium Americas Raises Flagship Project Cost Estimate By $900M – CEO Says Phase 1 Completion Targeted For Late 2027

Lithium Americas raised its total capital cost estimate for Thacker Pass Phase 1 to $3.83 billion from $2.93 billion.

• The project is expected to produce around 40,000 tonnes of battery-quality lithium carbonate annually once fully operational.
• Lithium Americas raised FY 2026 capital expenditure guidance to $1.7 billion to $2 billion from $1.3 billion to $1.6 billion.
• Wall Street expects LAC to post a loss of $0.03 per share in Q3.

Lithium Americas (LAC) was in the spotlight on Wednesday after the miner raised the construction cost estimate for its flagship lithium project in Nevada by nearly $900 million, citing rising labor costs, tariffs and logistical challenges.

Lithium Americas raised its total capital cost estimate for Thacker Pass Phase 1 to $3.83 billion from $2.93 billion, and increased its full-year 2026 capital expenditure guidance to $1.7 billion to $2 billion, up from $1.3 billion to $1.6 billion.

Thacker Pass is being developed through a joint venture with General Motors (GM), which currently holds a 38% stake, while Lithium Americas owns the remaining 62%.

Once fully operational, the project is expected to produce around 40,000 tonnes of battery-quality lithium carbonate annually, supporting domestic electric-vehicle and energy-storage supply chains, the company said.

“Phase 1 is advancing toward peak construction activity by year-end 2026, with mechanical completion targeted for late 2027,” said CEO Jonathan Evans.

Funding The Additional Project Cost

Lithium Americas expects to cover around $995 million in additional funding requirements, which includes the $900 million capital expenditure, through $650 million in company contributions, $315 million in existing U.S. Department of Energy (DOE) loan reserves, and a $30 million reduction in reserve requirements

“Despite external and internal factors impacting the Project’s capital cost estimate, the anticipated capital cost for Thacker Pass are expected to remain funded as we continue to deliver on our execution plan and bring the Project safely into production,” Evans added.

The company is also scheduled to report its third-quarter (Q3) results on November 12. Wall Street expects a loss of $0.03 per share, according to Fiscal.ai. LAC is a pre-revenue company.  

Retail Says LAC Is ‘Ridiculously Undervalued’

Retail sentiment surrounding LAC remained ‘neutral’ over the past 24 hours, amid ‘high’ message volumes.

One user believes the stock is “ridiculously undervalued.”

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LAC shares have slumped more than 60% so far in 2026.

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