Ioneer’s Lithium Project in Nevada Gets $700M Boost

ioneer Ltd (ASX:INR, Nasdaq:IONR) received approval for up to $700 million conditional loan from the US Department of Energy to finance the construction of the Rhyolite Ridge Lithium-Boron Project in Nevada, USA.

According to an article published by 2news.com, the loan is the latest indication of the Biden administration's commitment to strengthening the nation's battery supply chain, electrifying the transportation sector and cutting reliance on fossil fuels and foreign supplies of raw materials.

Rhyolite Ridge is the most advanced undeveloped US lithium project with a definitive feasibility study modeled on a 26-year mine life. The project has progressed into the final stage of

federal permitting with the decision by the US Bureau of Land Management (BLM) to publish a Notice of Intent (NOI) in the Federal Register.

The loan from the DOE is contingent on the completion of an environmental impact statement, as Ioneer works to minimize the project’s impact on an endangered Nevada wildflower, Tiehm's buckwheat, which the Fish and Wildlife Service has said is on the brink of extinction, the article said.

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