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Trident Royalties PLC on Wednesday said the US Circuit Court of Appeals rejected the arguments of an appeal seeking to overturn the approval of the Thacker Pass lithium project. The London-based diversified mining royalty company said the three-panel judge of San Francisco-based appellate court rejected the appeal arguments, ruling that the US Bureau of Land Management had acted ‘reasonably and in good faith’. Trident has a 60% interest in a gross revenue royalty over Thacker Pass. ‘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 second half of] 2026,’ said Chief Executive Officer Adam Davidson. ‘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.’ Thacker Pass operator Lithium Americas Corp began construction of the mine in 2023. Trident Royalties said the mine has a production capacity target of 80,000 tonnes per year of battery-quality lithium carbonate, split across two equal phases. Phase 1 production is expected to begin in the second half of 2026, Trident Royalties said. Assuming Lithium Americas exercises the partial royalty buyback of $13.2 million attributable to Trident Royalties, the latter will retain the equivalent of just under 1.1% net gross revenue royalty. Shares in Trident Royalties were up 2.1% to 48.00 pence each in London on Wednesday afternoon. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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