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Trump moves toward deal to give US an equity stake in company developing Nevada lithium mine

Michael Cole

Michael Cole

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www.kolotv.com

Trump moves toward deal to give US an equity stake in company developing Nevada lithium mine

The White House is moving forward with a deal that would allow the U.S. government to take a small equity stake in a Canadian company that is developing one of the world’s largest lithium mines in northern Nevada
www.kolotv.com www.kolotv.com

WASHINGTON (AP) - The White House is moving forward with a deal that would allow the U.S. government to take a small equity stake in a Canadian company that is developing one of the world’s largest lithium mines in northern Nevada, an official said.

The Department of Energy and Lithium Americas, developer of the proposed Thacker Pass lithium mine and processing plant about 200 miles north of Reno, have agreed on changes to a $2.3 billion federal loan that could allow the project to move forward to extract the silver-white metal used in electric vehicle batteries. General Motors has pledged more than $900 million to help develop Thacker Pass, which holds enough lithium to build 1 million electric vehicles annually.

The proposed equity stake in Vancouver-based Lithium Americas is the latest example of President Donald Trump’s administration intervening directly in private companies. The government is getting a 10% stake in Intel through the conversion of billions in previously granted government funds and pledges. The administration spent $400 million of taxpayer money in July on MP Materials stock to make the U.S government the biggest owner in the Las Vegas rare earths miner. Trump also made a deal with Nvidia and AMD to give the U.S. government a 15% cut of revenue from selling certain chips to China.

A White House official declined to specify the size of the U.S. stake in Lithium Americas, but said it would be “very small” — less than 10% — and serve as “a cash buffer” for the company. Lithium Americas asked the Energy Department to restructure the federal loan, which was approved last year by the Biden administration.

Government taking another stake in private businesses. Did Trump campaign on government ownership of industry?

How does a government share amount to "a cash buffer?"

The company was moving right along until the Trump snag. Unlike the grants to Intel, this is a loan. The government was set to receive all its money back plus interest. What purpose does giving a stake in Lithium Americas serve?
 
Michael Cole said:
www.kolotv.com

Trump moves toward deal to give US an equity stake in company developing Nevada lithium mine

The White House is moving forward with a deal that would allow the U.S. government to take a small equity stake in a Canadian company that is developing one of the world’s largest lithium mines in northern Nevada
www.kolotv.com www.kolotv.com

WASHINGTON (AP) - The White House is moving forward with a deal that would allow the U.S. government to take a small equity stake in a Canadian company that is developing one of the world’s largest lithium mines in northern Nevada, an official said.

The Department of Energy and Lithium Americas, developer of the proposed Thacker Pass lithium mine and processing plant about 200 miles north of Reno, have agreed on changes to a $2.3 billion federal loan that could allow the project to move forward to extract the silver-white metal used in electric vehicle batteries. General Motors has pledged more than $900 million to help develop Thacker Pass, which holds enough lithium to build 1 million electric vehicles annually.

The proposed equity stake in Vancouver-based Lithium Americas is the latest example of President Donald Trump’s administration intervening directly in private companies. The government is getting a 10% stake in Intel through the conversion of billions in previously granted government funds and pledges. The administration spent $400 million of taxpayer money in July on MP Materials stock to make the U.S government the biggest owner in the Las Vegas rare earths miner. Trump also made a deal with Nvidia and AMD to give the U.S. government a 15% cut of revenue from selling certain chips to China.

A White House official declined to specify the size of the U.S. stake in Lithium Americas, but said it would be “very small” — less than 10% — and serve as “a cash buffer” for the company. Lithium Americas asked the Energy Department to restructure the federal loan, which was approved last year by the Biden administration.

Government taking another stake in private businesses. Did Trump campaign on government ownership of industry?

How does a government share amount to "a cash buffer?"

The company was moving right along until the Trump snag. Unlike the grants to Intel, this is a loan. The government was set to receive all its money back plus interest. What purpose does giving a stake in Lithium Americas serve?
Click to expand...
This kind of crap is what turned me against the Liberal Party in Canada when Trudeau was the leader. He invested in an oil pipeline to make sure it went ahead in spite of protests. Now the Republican Party is taking ownership shares in corporations. That's the nose of the socialism camel poking through the door of the tent. And the magatry doesn't care, its what Trump wants so they're all for it.
 
Showtime586 said:
How much money will Trump make off of this deal?
Click to expand...
I'd like to know. The reasoning given doesn't add up. The government owning shares does not provide a cash buffer. The company already signed a loan agreement with Biden. Swapping grant money for shares, as Trump did with Intel, is a transaction. What is the transaction with Lithium Americas? It looks like Trump want a piece of the action as a condition of the loan. How much will this cost taxpayers?

I don't understand how so-called conservative Republicans in Congress can sit by and watch this happen.
 
Why did the company want to restructure the loan?
 
Michael Cole said:
I'd like to know. The reasoning given doesn't add up. The government owning shares does not provide a cash buffer. The company already signed a loan agreement with Biden. Swapping grant money for shares, as Trump did with Intel, is a transaction. What is the transaction with Lithium Americas? It looks like Trump want a piece of the action as a condition of the loan. How much will this cost taxpayers?

I don't understand how so-called conservative Republicans in Congress can sit by and watch this happen.
Click to expand...
Trump does not do anything that he cannot personally profit from.
 
Michael Cole said:
www.kolotv.com

Trump moves toward deal to give US an equity stake in company developing Nevada lithium mine

The White House is moving forward with a deal that would allow the U.S. government to take a small equity stake in a Canadian company that is developing one of the world’s largest lithium mines in northern Nevada
www.kolotv.com www.kolotv.com

WASHINGTON (AP) - The White House is moving forward with a deal that would allow the U.S. government to take a small equity stake in a Canadian company that is developing one of the world’s largest lithium mines in northern Nevada, an official said.

The Department of Energy and Lithium Americas, developer of the proposed Thacker Pass lithium mine and processing plant about 200 miles north of Reno, have agreed on changes to a $2.3 billion federal loan that could allow the project to move forward to extract the silver-white metal used in electric vehicle batteries. General Motors has pledged more than $900 million to help develop Thacker Pass, which holds enough lithium to build 1 million electric vehicles annually.

The proposed equity stake in Vancouver-based Lithium Americas is the latest example of President Donald Trump’s administration intervening directly in private companies. The government is getting a 10% stake in Intel through the conversion of billions in previously granted government funds and pledges. The administration spent $400 million of taxpayer money in July on MP Materials stock to make the U.S government the biggest owner in the Las Vegas rare earths miner. Trump also made a deal with Nvidia and AMD to give the U.S. government a 15% cut of revenue from selling certain chips to China.

A White House official declined to specify the size of the U.S. stake in Lithium Americas, but said it would be “very small” — less than 10% — and serve as “a cash buffer” for the company. Lithium Americas asked the Energy Department to restructure the federal loan, which was approved last year by the Biden administration.

Government taking another stake in private businesses. Did Trump campaign on government ownership of industry?

How does a government share amount to "a cash buffer?"

The company was moving right along until the Trump snag. Unlike the grants to Intel, this is a loan. The government was set to receive all its money back plus interest. What purpose does giving a stake in Lithium Americas serve?
Click to expand...

Good luck getting Carney to say "yes" to that, Emperor Trumpatine.
 
Showtime586 said:
How much money will Trump make off of this deal?
Click to expand...

If he doesn't make money off of it, he'll still get power.

As a stakeholder, he'll start making demands of the company.
"Can't do this", "Can't sell to whoever" and/or "Fire this person because..."
 
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