Thacker Pass lithium mine to be partly owned by federal government

The Trump administration has negotiated a stake in both the company building a lithium mine in Northern Nevada and the mine itself, the U.S. Energy Department said Tuesday.

The federal government will now own a 5 percent stake in the Thacker Pass mine in Humboldt County and another 5 percent stake in Lithium Americas, the Canadian company building it.

It’s a move for the U.S. government to have more direct control over the domestic critical mineral market, similar to contracts the Defense Department has with Las Vegas-based rare earth minerals company MP Materials .

“Today’s announcement helps reduce our dependence on foreign adversaries for critical minerals by strengthening domestic supply chains and ensures better stewardship of American taxpayer dollars,” Energy Secretary Chris Wrig