The Financial Post reports in its Friday, March 15, edition that the Biden administration approved a $2.26-billion loan to help Lithium Americas develop a Nevada lithium deposit that is the country's largest (all figures U.S.). A Bloomberg dispatch to the Post reports that the conditional loan from the U.S. Department of Energy will provide the vast majority of the capital needed to fund the first phase of development, the company said in a statement Thursday. The funding being offered to the company's Lithium Nevada Corp. subsidiary by the U.S. Department of Energy will help finance construction of a lithium carbonate processing plant. The project will be adjacent to Lithium Americas' $2.2-billion Thacker Pass mine, one of the country's most promising opportunities to produce the metal that is used in electric-vehicle batteries, solar panels and wind turbines. General Motors Co., which has invested $650-million in Lithium Americas, is expected to be a long-term primary buyer. Energy Secretary Jennifer Granholm said Wednesday, "We are fighting back to get every piece of the supply chain back in the United States or with our allies."