Summary
- Ioneer has received final permit approval for its Rhyolite Ridge project from the US Bureau of Land Management
- Updated reserve figures and estimated project costs to be issued by December 2024
- Construction of the project in Nevada set to start in 2025, with first production in 2028
- Company aims to supply batteries for over 370,000 US-made EVs annually
- Permit allows for construction in 2025 to bolster domestic production of critical minerals
Article
Ioneer, an emerging lithium-boron producer, has recently received final permit approval from the US Bureau of Land Management for its Rhyolite Ridge project. The company plans to issue updated reserve figures and estimated project costs by December 2024 and move towards a final investment decision with financing partners in the first quarter of 2025. The project, located in Esmeralda County, Nevada, is set to begin construction in 2025 with the goal of starting production in 2028. It aims to supply batteries for over 370,000 US-manufactured electric vehicles annually and process battery materials on-site.
With around 70% of engineering work already completed for the processing facility, Ioneer plans to evaluate and implement new technologies to reduce water consumption. The company intends to minimize its operational footprint by avoiding the use of evaporation ponds and limit its carbon footprint by operating the steam-powered facility independently from the Nevada energy grid. This strategic approach aligns with the company’s commitment to sustainable practices and environmental stewardship.
The formal Record of Decision (ROD) issued by the BLM follows the final Environmental Impact Statement (EIS) released last month. The EIS incorporated feedback from the public received during the open comment period from April to June. This marks the conclusion of the federal permitting process, which began in early 2020. Ioneer’s Managing Director, Bernard Rowe, expressed enthusiasm about the permit approval and highlighted the opportunity it presents for the company to strengthen domestic production of critical minerals.
By securing the necessary permits and approvals, Ioneer has gained a license to commence construction in 2025 and contribute to bolstering the domestic production of essential minerals. The company’s strategic focus on sustainability and efficiency, such as reducing water and carbon footprints, demonstrates its commitment to responsible resource development. The Rhyolite Ridge project’s timeline for construction and production aligns with the growing demand for electric vehicles in the US market, positioning Ioneer as a key player in the supply chain for battery materials. With the support of financing partners, Ioneer is set to make significant contributions to the clean energy transition through the development of its lithium-boron project.
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