Lithium Americas lifted Phase 1 capital costs for its Nevada lithium project by 31% to $3.83 billion during morning trading on Wednesday, driven by rising labor and logistics expenses. The upward revision adds $895 million in incremental capital expenditure compared to previous projections. Investors punished the stock, sending shares down 6.3% during morning trading.
Lithium Americas Raises Thacker Pass Cost by 31%
Lithium Americas raised the estimated cost of Phase 1 at its Nevada lithium project by 31 percent to 3.83 billion dollars. The company cited higher labor, construction, and logistics expenses. Company shares fell following the announcement.
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