USA greenlights key lithium project

USA

LAS VEGAS, October 25, 2024 – A lithium mine set to be among the USA’s largest has won government approval, with Ioneer now set to commission the project by 2028, the company announced on Thursday.

Ioneer’s Rhyolite Ridge Lithium-Boron Project in Nevada will supply lithium carbonate to the Ford Motor Company, as well as a Toyota-Panasonic joint venture that manufactures EV batteries.

The companies will offtake 7,000 and 4,000 tonnes per year, respectively.

The Bureau of Land Management’s approval was stymied for years by concerns over the presence of a rare flower at the site.

With the approval in hand, Ioneer can now proceed with construction, which is set to begin next year. The company can also now access funding in the form of a USD 700-million loan from the US Department of Energy and a USD 490-million equity investment from Sibanye Stillwater.

Photo of the Rhyolite Ridge Lithium-Boron Project site courtesy of Ioneer.

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