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TLDR
- LAC shares slide 12.70% as Lithium Americas details progress at Thacker Pass.
- Thacker Pass Phase 1 targets completion in late 2027, ahead of a 2028 ramp-up.
- Thacker Pass aims to produce 40,000 tonnes of lithium carbonate each year at scale.
- Engineering is complete, while equipment procurement has now surpassed 90%.
- Rail terminal construction advances to support future Thacker Pass operations.
Lithium Americas (LAC) shares plunged 12.70% to $1.65, losing $0.24, before rebounding 1.77% to $1.6792 after hours. Meanwhile, the company unveiled a $3.83 billion construction estimate for its Thacker Pass lithium project in Nevada. The company targets mechanical completion in late 2027 and a production ramp-up throughout 2028.
LAC Stock Faces Selling Pressure Despite Project Progress
LAC stock faced heavy selling during the session despite the company’s latest construction progress report. The decline came as Lithium Americas outlined its development schedule and updated capital requirements. The company also confirmed that construction activities continue across several major facilities.
Lithium Americas is developing Thacker Pass in Humboldt County as a domestic battery-materials source. At full capacity, Phase 1 should produce approximately 40,000 tonnes of battery-quality lithium carbonate annually. The project aims to support electric vehicle batteries and stationary energy storage systems.
Furthermore, Lithium Americas plans to transition into operations after completing the first construction phase. Management is expanding its operations and business readiness workforce ahead of startup. The company expects construction activity and labor demand to peak by year-end.
Thacker Pass Construction Advances Across Key Facilities
By September 30, crews had completed 4.7 million work hours without serious injuries or lost-time incidents. The site employed approximately 1,900 people, including more than 1,600 craft workers. Lithium Americas expects the workforce to reach approximately 2,200 people by year-end 2026.
Detailed engineering reached completion, while procurement exceeded 90% by September 30. The company expects final equipment and bulk material deliveries by year-end. Contractors have committed over 80% of third-party contract value and incurred more than half.
Around September 30, approximately 60 trucks delivered equipment and materials to the site daily. Deliveries included the main transformer, steam turbine generator and major processing vessels. Meanwhile, crews continued structural steel installation, concrete work and piping across several processing facilities.
Rail Terminal Development Supports Future Lithium Production
Lithium Americas began awarding equipment contracts in late 2024 and early 2025 to reduce construction schedule risks. The company also advanced installation work across its processing facilities. These activities support preparations for mechanical completion and future lithium carbonate production.
By August, workers had received all major structural steel needed for the project. Additionally, 80% of fabricated piping materials had reached the site or entered transit by late October. These deliveries support installation work at the processing plant and its associated buildings.
Beyond the main site, construction advanced at the transload terminal west of Winnemucca in northern Nevada. Rail stabilization and sub-ballast work reached 95% completion during the third quarter, alongside initial concrete work. The company targets terminal completion in 2027 to support reagent deliveries and future Thacker Pass operations.
The post Lithium Americas Corp. (LAC) Stock: Unveils $3.83B Thacker Pass Construction Plan appeared first on Blockonomi.
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