Trident Royalties PLC (AIM:TRR) said it had noted the recent court ruling that a final legal decision will be made in the next two months about the Thacker Pass lithium project in Nevada.
Lithium Americas Corp (TSX:LAC, NYSE:LAC) (LAC) is developing Thacker Pass but Trident holds a 60% interest in a gross revenue royalty over the entirety of the project
Potentially, Thacker Pass could become the US’s largest lithium mine but the project has faced a long legal battle with local native American tribes who say the land is sacred.
At an oral hearing on 5 January 2023, a Federal Court reaffirmed no additional hearings or briefings are required and it expects to issue a decision in the next couple of months.
Jonathan Evans, LAC’s chief executive, said the hearing “provided an opportunity to reaffirm our confidence that the permitting process for Thacker Pass was conducted thoroughly and responsibly“.
Adam Davidson, Trident’s CEO, added: "Thacker Pass is a critical project for the USA to establish a robust battery metal supply chain.
“It is also a cornerstone asset within our portfolio and provides battery metal exposure and significant future revenues."