Ioneer (ASX:INR) has reached a critical step in the development of its 100%-owned Rhyolite Ridge Lithium-Boron Project in Nevada. In its September 2024 quarterly report, Ioneer announced the publication of the Final Environmental Impact Statement (EIS) by the Bureau of Land Management (BLM), marking the final phase of the US federal permitting process.
This EIS milestone is a key step toward the anticipated Record of Decision (ROD) from the BLM, expected in October 2024. A positive ROD would allow Ioneer to move forward with construction, which is expected to begin in early 2025 after a Final Investment Decision (FID). Once operational, Rhyolite Ridge is expected to quadruple the US lithium supply and provide critical minerals for electric vehicle battery production.
Ioneer Managing Director Bernard Rowe stated, “Rhyolite Ridge will play a vital role in securing a domestic supply of lithium, reducing reliance on foreign sources, and helping the US transition to a clean energy future. We are proud of the progress made and the collaboration with federal and state agencies that has brought us to this point.”
Ioneer has strong backing, including a $490 million equity commitment from Sibanye-Stillwater and a $700 million loan from the US Department of Energy.