Ioneer Eyes 2024 Construction of its Rhyolite Ridge Lithium-Boron Project

Ioneer (ASX:INR,NASDAQ:IONR) could become the first new lithium producer in the US since the 1960s, according to Managing Director Bernard Rowe.

The company recently received approval for an up to US$700 million conditional loan from the US Department of Energy to finance the construction of the Rhyolite Ridge lithium-boron project in Nevada, US.

“Really, we're just getting started,” Rowe said. “We're partnered with some of the big makers in the US, and so we have a very positive outlook for 2023 and beyond as we go into construction in 2024.”

The Rhyolite Ridge lithium-boron project has advanced into the final stage of federal permitting with the decision by the US Bureau of Land Management to publish a notice of intent in the Federal Register. This marks a major milestone toward the completion of the National Environmental Policy Act process and approval of the project’s plan of operations.

Rowe explained that part of the US$700 million conditional loan is the completion of the permitting process.

“That'll be the focus for (the duration of) 2023, the permitting and updating of all of those cost estimates, finishing off the engineering and detailed engineering design work — that is close to being complete — so that we could be shovel-ready to commence construction,” Rowe said.

Rowe added that the company will start paying attention to growth opportunities for the project due to its very large resource. “The feasibility study was based on the reserves of about 60 million tonnes, but we actually have 146 million tonnes of resources of lithium and boron mineralisation," he said. "And it's open in multiple directions. We also have a second deposit further to the north. So we're going to be doing a bit of work that's all about exploration and growth opportunity … You're going to see us devoting a bit of time and attention to those growth opportunities as we move forward through to 2023.”

Watch the full interview with Ioneer Managing Director Bernard Rowe above.

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