Lithium Americas stock surged on Wednesday following a report that the Trump administration is pursuing a 10% stake in the mining firm as the White House looks to intervene in industries deemed critical to national security.

A source familiar with the negotiations told FOX Business that Lithium Americas has agreed to allow the Trump administration to take a small stake of less than 10% in the company as it renegotiates a $2.26 billion Department of Energy (DOE) loan that dates back to the Biden administration.

General Motors (GM) holds a 38% stake in Lithium Americas and negotiations are ongoing over whether the company will agree to the U.S. government's share, according to the source.

Lithium Americas is developing Thacker Pass in Humboldt County of northern Nevada, the site of

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