Trident Royalties PLC has welcomed a US Court of Appeal ruling on the Thacker Pass that allows the vast lithium project to proceed.
An appeal to overturn the US Bureau of Land Management managers' approval of the Nevada project was rejected by a San Francisco-based appellate court that ruled the agency had acted "reasonably and in good faith" in granting the go-ahead.
Thacker Pass is targeting 80,000 tonnes per annum of battery-quality lithium carbonate production capacity in two phases of 40,000 tpa.
Lithium Americas Corp (TSX:LAC, NYSE:LAC) (LAC), the operator, started constructing the mine in March 2023 and phase 1 production is expected to commence in the second half of 2026.
Trident will retain the equivalent of a (net) 1.05% gross revenue royalty if LAC exercises a buyback option.
Adam Davidson, Trident’s chief executive, said: "It is reassuring to see such a decisive ruling on this matter, allowing work to continue unimpeded on-site at Thacker Pass ahead of first production in the first half of 2026.
“This ruling has confirmed that the permitting process was conducted thoroughly and appropriately, and is firm validation for the development of Thacker Pass into one of the world's largest lithium mines over the coming years."