Trident Royalties PLC (AIM:TRR) noted that construction is going ahead at the Thacker Pass lithium project, where it holds a 60% interest in a gross revenue royalty.
Project operator Lithium Americas Corp (LAC) issued a statement yesterday saying it has been given permission to begin construction in Nevada from the US Bureau of Land Management.
The first phase of production at Thacker Pass, part of a two-phase process targeting total production of 80,000 tonnes per annum of battery-quality lithium carbonate capacity, is expected to begin in the second half of 2026.
If LAC exercises the partial royalty buy-back of US$13.2mln attributable to Trident, then the AIM-listed company will retain the equivalent of a net 1.05% gross revenue royalty.
LAC chief executive Jonathan Evans called the start of construction a “momentous milestone” for Thacker Pass after more than a decade of work so far.