Deterra Royalties (ASX:DRR) said that Lithium Americas, the project operator of the Thacker Pass lithium project in Nevada, gave notice that major construction is underway at the project, with first steel installation expected to begin in September, according to a Monday filing with the Australian bourse.
The operator has nearly completed earthworks and began permanent concrete placement in the processing plant area in early May, the filing said.
The company confirmed that the first phase of the project's development is on track for completion by late fiscal year 2027.
Deterra has a 4.8% gross revenue royalty on Thacker Pass, which may be reduced to 1.05% if a $13.2 million expected royalty buyback materializes.
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