Trident Royalties PLC (AIM:TRR) has noted a recent update on the Thacker Pass lithium project in Nevada from project operator, Lithium Americas Corp (TSX:LAC, NYSE:LAC).
Trident holds a 60% interest in a gross revenue royalty over the entirety of the project.
Lithium Americas reported that following the completion of briefings on August 11, 2022, the US District Court, District of Nevada has scheduled an oral hearing for January 5, 2023.
"We are pleased to note the advancement of the next step in the appeal process which, whilst progressing slower than initially envisaged, is now scheduled and continues the process toward resolution,” said Adam Davidson, chief executive of Trident Royalties in a statement.
"We note LAC's success since the appeal was launched in 2021, with all four injunction requests and subsequent motions to reconsider being denied by the Federal Court, and the reaffirmation of the previously approved Water Pollution Control Permit ruling by the Nevada State Environmental Commission by denying an appeal in a 5-0 decision. Thacker Pass remains one of the largest and most advanced lithium projects in the US and a key component in the US government’s ambitions to secure access to key critical minerals," he added.
Jonathan Evans, chief executive of Lithium Americas, said: "With all state and federal permits received to begin construction, the ruling on Thacker Pass' ROD represents the final regulatory hurdle to move forward the largest and most advanced lithium chemicals project in the US.”