New York, Jan 23, 2026, 12:54 (ET) — Regular session
- Lithium Americas shares climbed roughly 4% by midday, building on gains from Thursday’s close
- House Democrats have called on the Interior watchdog to investigate a potential conflict involving the Thacker Pass water-rights deal
- Lithium stocks remain under the spotlight as traders monitor a bounce in lithium prices alongside new analyst upgrades in the sector
Lithium Americas shares climbed roughly 4% to $6.38 on Friday, extending gains after an initial surge pushed the stock up to $6.68. The Nevada-focused miner continues to build on this momentum.
The development follows a fresh political stir over Thacker Pass, Lithium Americas’ main lithium project in northern Nevada. This week, House Democrats called on the Interior Department’s inspector general to investigate whether a senior official failed to disclose a conflict of interest tied to the mine’s approval.
Thacker Pass is now a crucial piece in the company’s funding and commercial strategy: it’s a major U.S. lithium supply project supported by a federal loan program and a long-term offtake deal with General Motors. Lithium Americas aims to mechanically complete Phase 1 by late 2027, producing 40,000 tonnes annually of battery-grade lithium carbonate.
Lawmakers sent a Jan. 20 letter to acting inspector general Caryl Brzymialkiewicz, urging an immediate probe into Interior associate deputy secretary Karen Budd-Falen. They pointed to new evidence surrounding a $3.5 million water-rights deal linked to a family ranch and claimed that agency scientists’ objections were ignored during the mine’s review.
A spokesperson for Lithium Americas told a local outlet the company “did not discuss Thacker Pass” during its meeting with Budd-Falen. The Interior Department did not reply to requests for comment. https://www.kolotv.com
Friday’s gains reflected a firmer tone in lithium stocks overall. Albemarle barely moved, while Chile’s SQM climbed roughly 1%. This came after several analyst upgrades for Albemarle, driven by optimism that rising lithium prices might boost its earnings potential.
Lithium Americas ended Thursday at $6.13, gaining roughly 8% following a volatile run for battery-materials shares.
Thacker Pass still faces a lengthy development process. A watchdog review request doesn’t ensure an investigation or any conclusions. However, the potential for negative headlines could expand the range of possible outcomes for permits, project timelines, and federal backing—right as the company pushes its image as a key domestic supply-chain player.
Investors are set to monitor any moves from Interior’s inspector general closely, along with new insights from management at upcoming investor events. Key dates include TD Cowen’s metals and mining meeting on Jan. 27 and BMO’s metals and mining conference on Feb. 22.
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