Rhyolite Ridge Lithium-Boron Project Closes Upsized $996 Million Loan From U.S. Department of Energy to Accelerate Domestic Critical Mineral Production
Funding for Ioneer Project: Ioneer Ltd has secured a $996 million loan from the U.S. Department of Energy to develop an on-site processing facility at the Rhyolite Ridge Lithium-Boron Project in Nevada, which aims to significantly boost domestic lithium supply and create hundreds of jobs.
Environmental and Economic Impact: The project is designed to minimize environmental impact by reducing water use and carbon footprint, while also establishing a sustainable supply chain for critical minerals in the U.S., addressing the growing demand for domestically sourced lithium and boron.
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Trump's Mineral Strategy Following Lithium Americas—Which Companies Might Be Next?
Trump Administration's Investment: The Trump administration is acquiring a 10% equity stake in Lithium Americas Corp to enhance domestic lithium production, renegotiating a $2.26 billion loan for the Thacker Pass project in Nevada.
Potential Candidates for Government Support: Other companies in the critical minerals sector, such as MP Materials, USA Rare Earth, Ioneer, and Perpetua Resources, may also attract government investment due to their strategic importance in reducing reliance on foreign sources, particularly China.
Ioneer surges following improved evaluation of Nevada lithium-boron initiative
Ioneer Stock Surge: Ioneer (NASDAQ: IONR) saw a 17.2% increase in stock price following an upgrade in the economics of its Rhyolite Ridge lithium-boron project in Nevada.
Improved Project Economics: The updated mine plan revealed a 38% increase in net present value to A$1.89B, a 16.8% internal rate of return, and significant increases in lithium and boron production rates, positioning the project among the lowest cost producers globally.
