ISTANBUL

The Canadian miner firm Lithium Americas' shares soared around 100% Wednesday as the US government is seeking an equity stake in the mining company, CNBC reported on Wednesday.

According to a Trump administration official who spoke to CNBC, the White House suggested the equity stake as Lithium Americas renegotiates the conditions of a $2.2 billion loan from the Department of Energy for its Nevada Thacker Pass project.

The White House's newest attempt to directly control a mineral supply chain vital to American interests is the first time a Canadian corporation has been offered such an offer.

In July, the Department of Defense acquired a 15% ownership share in MP Materials, a rare earth miner. Since the deal, MP Materials' shares, which are located in Las Vegas, have more than doubled.

With the first phase of the project planned to begin operations in late 2027, Thacker Pass in northern Nevada is poised to become one of the greatest sources of lithium in North America. General Motors and Lithium Americas have partnered on the project.

According to the official, Lithium Americas and GM had to renegotiate the terms of the loan for Thacker Pass because they failed to fulfill the requirements for the initial payout. They asked to postpone some of the loan payments to later years during discussions with the Department of Energy.

Although an agreement has not yet been reached, the official said that the Donald Trump administration is in favor of the project and that talks are going well. The jurisdiction of the firm may also require Canadian clearance for the investment.

In April, Interior Secretary Doug Burgum disclosed that the Trump administration was thinking of purchasing stock in miners to support them in their fight against Chinese state-sponsored competition.