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Lithium Americas falls after raising Thacker Pass capex estimate

By Reuters News14:54 (UTC), 11 November 2026 Updated

** Shares of miner Lithium Americas LAC.TO fall 6.4% to $1.77

** Company raises capex estimate for phase 1 of its Thacker Pass lithium project in Nevada to $3.83 billion from $2.93 billion, citing construction progress, engineering updates and procurement costs

** LAC expects to spend $1.7 billion to $2.0 billion on phase 1 this year, up from its prior estimate of $1.3 billion to $1.6 billion

** Company says 2026 capex forecast also includes capitalized interest on a US Department of Energy loan of $55 million to $65 million

** LAC sees mechanical completion of Thacker Pass Phase 1 construction by late 2027, with ramp-up through 2028

** "We expect LAC shares to trade lower near term, following a ~30% capex increase at its flagship Thacker Pass Phase 1" - Scotiabank

** Including session's moves, stock down 59.5% YTD

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