Lithium Americas' (LAC) $2.3 billion loan to develop the Thacker Pass lithium project in Nevada is under review by the Trump administration, Bloomberg reported Tuesday, citing people close to the matter.

The loan, which was initially approved under President Biden and finalized in 2024, was meant to finance the building of a nearby processing facility, according to the report.

The Energy Department is urging General Motors (GM), a 38% mine stakeholder with nearly $1 billion committed towards the project, to sign a binding offtake agreement for the mine's production amid competition concerns, the report said.

Lithium Americas and General Motors did not immediately reply to MT Newswires' request for comment.

Shares of Lithium Americas were down 8% in recent trading.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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