The U.S. government’s move to secure equity in Thacker Pass lithium mine marks a defining moment for American resource independence — a central plank of Jim Rickards’ American birthright thesis.

That thesis isn’t just theory: It’s playing out in real time as President Trump pushes for direct federal ownership in Lithium Americas (LAC), aiming to restore the nation’s control over critical mineral assets and secure the future of energy manufacturing.

This week, Lithium Americas’ shares surged roughly 90%–100% over two sessions after reports emerged that the administration is seeking up to a 10% equity stake tied to an existing $2.26 billion Department of Energy loan for the Thacker Pass project

Officials are pressing for more than repayment. They want long-term purchase guarantees, including from General Motors, ensuring a stable domestic market for lithium output. In parallel, Lithium Americas has proposed issuing no-cost warrants that could give the government up to a 10% equity stake.

The message is simple: when Washington backs a strategic asset, taxpayers should share in the upside.

Your Rundown for Friday, September 26, 2025...

Lithium, Jobs and Strategic Stewardship

Located in northern Nevada, Thacker Pass isn’t just another mining development. Once fully operational, the mine is projected to produce 40,000 tonnes per year of battery-grade lithium carbonate — enough to power nearly 800,000 electric vehicles annually. That scale would make it the largest planned lithium mine in the Western Hemisphere.

The private sector has already signaled confidence. General Motors has committed $650 million for a 38% equity stake in Lithium Americas, ensuring first rights to Thacker Pass’ Phase 1 output for two decades. For GM, it’s not just an investment — it’s a hedge against global supply risks.

The economic benefits to Nevada are equally significant. Projections call for about 1,800 construction jobs and about 360 permanent operations roles. These aren’t short-term gigs; they include long-term, high-skill positions in chemical engineering, logistics and operations management.

But the urgency extends far beyond jobs. Today, the U.S. produces less than 1% of the world’s lithium, while China refines the majority of global supply. With worldwide mine production at roughly 240,000 tonnes a year, Washington policymakers have flagged America’s dependence on overseas refiners as a critical national security vulnerability.

Defense systems, grid-scale batteries and the broader energy transition all hinge on access to this single mineral. That’s why the federal government is moving beyond tax credits and loans toward direct equity stakes in projects like Thacker Pass.

As one analyst observes: “Washington’s push for direct equity in Lithium Americas shows that taxpayer-backed financing needs real returns.”

This marks a notable departure from decades of passive industrial policy, when governments extended financing or guarantees without demanding ownership. Now, the idea is shifting: if critical minerals underpin national survival, then the public should not just subsidize extraction but claim a fair share of the benefits.

That shift echoes Jim Rickards’ American birthright thesis. Thacker Pass embodies this principle. It represents the U.S. reclaiming direct control over critical resources, not as a luxury, but as a birthright. By linking public investment to public benefit, the mine signals a broader return to purposeful national strategy.

The story of Thacker Pass is still being written. Yet it already illustrates a powerful idea: America’s future lies in reasserting control over its foundational resources. Lithium, once obscure, now sits at the heart of both economic growth and national defense.

If federal equity stakes become the norm, Thacker Pass may prove to be more than a mine. It could be the test case for whether America can reclaim its birthright — using its natural wealth not only to fuel innovation but to secure prosperity for the entire nation.

Market Rundown for Friday, September 26, 2025

S&P 500 futures are up about 0.10% to 6,665.

Oil’s down 0.15% to $64.85 for a barrel of WTI.

Gold is up 0.25% to $3,781.70 per ounce.

Bitcoin’s down 0.45% to $109K.