
June 01, 2025
Ioneer Ltd (ASX: INR, Nasdaq: IONR) (Ioneer) is pleased to announce a 308% upgrade to the Ore Reserve estimate for its 100%-owned Rhyolite Ridge Lithium-Boron Project (‘Rhyolite Ridge’ or the ‘Project’) in Nevada, USA, alongside updated Project economics.
- Rhyolite Ridge Ore Reserve more than quadrupled from 60 million tonnes in 2020 to 247 million tonnes, delivering a mine life of 95 years
- Ore Reserve now contains a total of 1.92 Mt of lithium carbonate equivalent and 7.68 Mt of boric acid equivalent
- Underpinning plans for a large, long-life, low-cost expandable operation, producing lithium carbonate, boric acid and then battery-grade lithium hydroxide
- Stable co-product - boric acid accounts for an average 25% of annual revenue in the first 25 years; helping ensure positive EBITDA at low lithium prices and EBITDA margin of 65.7% based on average production over first 25 years
- All-in sustaining cash cost of US$5,745 per metric tonne lithium carbonate equivalent places the Rhyolite Ridge Project in the bottom of the global lithium cost curve
- Compelling Project economics with an after-tax NPV of US$1.367 billion, and an unlevered, after-tax internal rate of return (IRR) of 14.5%
The Ore Reserve has increased by 186.6 million tonnes (Mt) and approximately 48% of the Mineral Resource has been converted into Reserve, now estimated at:
- 246.6 Mt at 1,464 ppm lithium and 5,444 ppm boron
- Containing 1.92 Mt of Lithium Carbonate Equivalent (LCE) and 7.68 Mt of Boric Acid Equivalent (BAE)
“Today’s updated Reserve and Mine Plan reinforces the importance of Rhyolite Ridge’s remarkable mineralogy. Our Ore Reserve estimate of 247 Mt containing a total of 1.92 Mt LCE and 7.68 Mt BAE make it the largest lithium-boron Reserve in the world,” said Bernard Rowe, Managing Director, Ioneer. “It allows Ioneer to match prevailing market conditions and blend or prioritise ore to produce a valuable boric acid co- product, whose market is uncorrelated with the Project’s primary lithium product. No other lithium project offers this level of flexibility and economic advantage. In periods of low cycle lithium pricing, like today, we plan to prioritize the high-boron ore production to optimize the relative proportion of total revenue derived from boric acid.”
By prioritising High-Boron (Hi-B) ore in the first 25 years of production, the Project is poised to produce an average of ~19,200 tonnes per annum (tpa) of LCE, and 116,400 tpa of boric acid (see Table 1).
The updated Ore Reserve estimate, 95-year mine plan for stage one operations, and Project economics reaffirms Rhyolite Ridge as a highly attractive global Project to produce lithium carbonate, lithium hydroxide and boric acid. The updated findings position Ioneer, on an LCE basis, in the lowest cost quartile for lithium production globally with an estimated all-in sustaining cash cost to produce battery grade lithium hydroxide of US$5,745 and a cash cost of C1 $3,858 per tonne net of expected boric acid revenue in the first 25 years.
The Project has a stable overall operating cost structure to produce lithium carbonate and battery grade lithium hydroxide due to the scale and reliability of its boric acid credit. Boron remains one of the most stable natural resource commodities over many decades.
Ioneer has refined Project plans over the past four years and updates now include an Association for the Advancement of Cost Engineering (AACE) Class 2 capital cost estimate (-10%, +15%) with approximately 70% of the Project’s engineering complete. As a result of this and other engineering work including RAM analysis and detailed engineering design, Ioneer has adopted a more conservative approach to plant availability, equipment downtime and maintenance strategies. While this approach reduces bottom line economics, the Company believes it is appropriate for a Project of this type and scale.
The Company now estimates total capital expenditure to complete the Project will be US$1,667.9 million, including a 10% contingency.
Click here for the full ASX Release
This article includes content from Ioneer Ltd, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
INR:AU
The Conversation (0)
16 August 2023
Ioneer Ltd.
Overview
Decarbonization initiatives have created a growing demand for the critical minerals necessary to manufacture clean technologies. Supply is already struggling to keep up with this new level of demand, especially when it comes to lithium — a key element used in renewable energy technology. Lithium-ion batteries are vital for electric vehicles (EVs), and the batteries to store energy from wind and solar. By 2050, around 300 terawatt hours (TWh) of lithium-ion battery deployed capacity will be needed to power EVs and supply energy storage systems.
But lithium is not the only critical mineral the world needs to reach ambitious net-zero goals. Boron is an element prized for its heat absorption, insulation and lightweight properties. The element is widely used in manufacturing EV chassis and permanent magnets.
Ioneer Ltd. (ASX:INR, Nasdaq: IONR) aims to develop a source of both lithium and boron for the US domestic supply chain. It is an exploration and development mining company that owns 100 percent of the only lithium-boron deposit in North America and one of two known lithium-boron deposits globally. The company's flagship asset, the Nevada Rhyolite Ridge Lithium-Boron Project, is the most advanced lithium development project in the United States and has the potential for future low-cost production. An experienced management team, with expertise throughout the natural resources industry, leads Ioneer towards its goals.The Rhyolite Ridge Project is unique both within North America and globally due to its lithium-boron deposits. Both elements are necessary for decarbonization, making the asset ideal for supporting the United States’ goals of achieving net-zero emissions by 2050. A 2020 definitive feasibility study (DFS) confirmed the project is a world-class lithium and boron asset with a long mine life and strong economics.
Ioneer has signed binding lithium offtake agreements with EcoPro Innovation, Ford Motor Company (NYSE:F), Prime Planet Energy Solutions (a joint venture between Toyota and Panasonic), and Dragonfly Energy. Entering into these agreements marks the completion of a key milestone as it moves toward production. The company expects the Rhyolite Ridge Project to be operational by 2026, and then begin supplying materials to its offtake partners. The DFS anticipates the project to generate enough lithium carbonate to produce high-capacity batteries for almost 400,000 EVs for its partners annually.
Additionally, Ioneer has entered into a joint venture agreement with Sibanye Stillwater Ltd (Sibanye-Stillwater) (NYSE:SBSW) to advance the Rhyolite Ridge project once a final investment decision is made. Ioneer will remain the operator of the asset, and the new partner will contribute US$490 million in exchange for a 50 percent interest in a joint venture to support the development of the Rhyolite Ridge Project.A board with decades of experience in the natural resources industry leads the company toward fully developing its promising project.
James Calaway, executive chairman, is the former chairman of Orocobre Ltd (now Allkem), a significant global lithium supplier. Bernard Rowe, managing director, has over 25 years of experience in mineral exploration and mine development. Alan Davies, independent non-executive director, is the former chief executive of energy and minerals at Rio Tinto, including the Borates division. Margaret Walker, independent non-executive director, brings over 40 years of experience in chemical engineering, construction and development of complex projects. Rose McKinney-James, independent non-executive director, provides a wealth of experience in both public and private sector service across corporate sustainability, social impact and small business leadership. Stephen Gardiner, independent non-executive director, has over 40 years of corporate finance experience at major international publicly listed companies.
The management team includes additional engineering, sales/marketing, corporate development and international finance experts.
Company Highlights
- Ioneer Ltd is an exploration and development mining company with a 100-percent-owned advanced-stage lithium-boron asset in the United States, with a goal to reach production and become an important source for the US domestic supply chain with lithium and boron, elements necessary for decarbonization.
- Rhyolite Ridge, the company’s flagship lithium-boron asset, is the only deposit of its kind in North America and is one of two known lithium-boron deposits globally.
- The Rhyolite Ridge South Basin Mineral Resource is 360Mt containing 3.4Mt of lithium carbonate equivalent and 14.1Mt boric acid equivalent, inclusive of the 60Mt reserve of high boron and lithium that supports the 26-year phase one mine development.
- A definitive feasibility study (DFS) indicates the asset has the potential to become a world-class project with a long mining life and strong economics.
- The DFS forecasts that the Rhyolite Ridge asset can produce batteries necessary for nearly 400,000 EVs per year.
- Ioneer has entered into binding lithium offtake agreements with automotive and electronics manufacturers, securing a future revenue stream once the project reaches production.
- The company has entered into a joint venture agreement with Sibanye-Stillwater to contribute US$490 million in exchange for a 50 percent interest in the project.
- The US Department of Energy (DOE) has offered a conditional loan commitment of up to US$700 million at fixed 10-year US Treasury rates to develop the Rhyolite Ridge project
- Ioneer is primed to commence construction of the Rhyolite Ridge Project upon final permitting and is well-positioned to become a cornerstone supplier of lithium to the US EV battery supply chain.
- An experienced management team with expertise throughout the mining industry, including lithium and boron, guides the company towards its mission of supporting the domestic US supply chain.
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Developing a Rare North American Lithium-Boron Deposit Crucial to Clean Technology
2h
Lithium Americas and GM Advance Thacker Pass with Landmark Federal Funding
Lithium Americas (TSX:LAC,NYSE:LAC) has reached an agreement with General Motors (NYSE:GM) and the US Department of Energy (DOE) to unlock the first $435 million installment of a landmark federal loan for its Thacker Pass lithium project in Nevada.
The company confirmed on Wednesday ( October 1) that the DOE will receive warrants giving it a 5 percent equity interest in Lithium Americas and a parallel 5 percent economic interest in the Thacker Pass joint venture with GM.
The arrangement is part of the terms for advancing the first tranche of a US$2.23 billion federal loan approved in 2024 to finance construction of the project, which is set to be the largest source of lithium in the western hemisphere.
The DOE also agreed to defer US$182 million of debt service over the first five years of the loan, while Lithium Americas will post an additional US$120 million into reserve accounts within a year of the funds being drawn.
Located about 25 miles south of the Oregon border, Thacker Pass has been cast as central to Washington’s push to cut reliance on Chinese-controlled processing and narrow the gap with global lithium producers in Australia and Chile.
Phase 1 of the project is designed to produce 40,000 metric tons of battery-grade lithium carbonate annually—enough to support roughly 800,000 electric vehicles.
At present, US domestic lithium output is negligible, limited to Albemarle's (NYSE:ALB) Silver Peak operation in Nevada, which produces fewer than 5,000 metric tons a year.
By comparison, China processes more than three-quarters of the world’s raw lithium into battery-grade material.
Washington’s share finalized
The DOE stake comes after weeks of speculation over the size of Washington’s equity interest.
According to sources in late September, Trump officials had pressed for up to 10 percent, with Lithium Americas countering by offering no-cost warrants for 5 to 10 percent of its shares. The final agreement settled at the low end of that range.
The warrants issued to DOE will allow the department to appoint an observer to the joint venture’s board meetings for as long as it retains its economic stake.
If exercised in full, the ownership structure of the Thacker Pass joint venture will be 59 percent Lithium Americas, 36 percent GM, and 5 percent DOE.
Voting control, however, will remain split 62 percent to Lithium Americas and 38 percent to GM.
“We greatly appreciate the support of the Administration, General Motors and our partners in advancing this vital world-class project,” said Jonathan Evans, president and CEO of Lithium Americas.
“Together, we are onshoring large-scale US lithium production, strengthening America’s supply chain, creating exceptional jobs and enhancing our long-term energy security and prosperity”
For Washington, the agreement marks the latest in a series of moves by the Trump administration to take minority positions in companies deemed critical to US industrial and national security interests.
US Energy Secretary Chris Wright said in a statement that the Thacker Pass deal “helps reduce the country’s dependence on foreign adversaries for critical minerals by strengthening domestic supply chains.”
Shares of Lithium Americas surged more than 30 percent in pre-market trading Wednesday following the announcement, extending a rally that began last month when reports of a potential federal equity stake first surfaced.
The stock had spiked more than 90 percent in late September after Reuters reported the Trump administration’s push for ownership, jumping from about US$3 to over US$6.
Construction at Thacker Pass is already underway, with more than 600 contractors on site. The mine and processing plant are expected to reach full commercial output in 2028.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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26 September
Top 5 Canadian Mining Stocks This Week: Lithium Americas Jumps 126 Percent
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.
Statistics Canada released its natural resource indicators report for the second quarter of 2025 on Thursday (September 25), which includes real gross domestic product (GDP), export and import data for Canadian resources.
According to the announcement, the real GDP for the sector decreased by 2.4 percent during the quarter, following a 1.8 percent rise in the first quarter, and outpaced the 0.4 percent decline in the broader Canadian economy.
Forestry saw the most significant decline, with real GDP falling by 4.9 percent; however, declines were felt throughout the sector. Real GDP of the energy sector dropped 2.5 percent, led by refined petroleum products decreasing 7.4 percent and electricity decreasing 3.5 percent. Minerals and mining decreased 1.2 percent, with primary metallic mineral products dropping the most in the category at 3.7 percent.
Exports declined by 6.6 percent, with forestry again registering the largest decrease at 15.5 percent, followed by energy decreasing 5.9 percent and minerals and mining dropping 4 percent. The reporting agency noted that declines coincided with increased tariffs on goods, especially steel and aluminum, entering the United States.
Meanwhile, imports increased by 6.6 percent during the quarter, following a 2.9 percent rise in the first quarter, and were mainly attributable to a 17.3 percent increase in mineral and mining imports, which included a 35.4 percent rise in metallic mineral products.
In major mining news this week, Freeport-McMoRan (NYSE:FCX) announced on Wednesday (September 24) that the closure of its Grasberg operations in Indonesia would be extended. The closure came after 800,000 metric tons of liquid materials entered its main Grasberg block cave on September 8, trapping seven workers. So far, the bodies of two workers have been recovered, and the remaining five workers are still missing.
Operations at two underground mines that were unaffected by the accident should restart mid-way through the fourth quarter, according to the company, but operations at the Grasberg block cave will not return to full production until at least 2027.
Grasberg is among the largest copper and gold mines in the world, contributing 1.7 billion pounds of copper and 1.4 million ounces of gold annually.
The announcement caused copper prices to surge by 5 percent in trading on Wednesday to US$4.84 per pound on the COMEX. Meanwhile, shares in Freeport tumbled by 16.95 percent to US$37.67 that day, and fell another 6 percent to US$35.46 on Thursday.
For more on what’s moving markets this week, check out our top market news round-up.
Markets and commodities react
Canadian equity markets were in positive territory this week by the end of trading Thursday.
The S&P/TSX Composite Index (INDEXTSI:OSPTX) set another new record high this week, climbing above the 30,000 mark for the first time on Tuesday before retreating to close Thursday at 29,731.98. The S&P/TSX Venture Composite Index (INDEXTSI:JX) performed even better, peaking at 929.64 Tuesday and ending the week at 920.18. For its part, the CSE Composite Index (CSE:CSECOMP) peaked on Wednesday at 168.38, but retreated to end Thursday at 163.31.
The gold price continued to climb this week, setting another new record, as it achieved an intraday high of US$3,788 per ounce on Tuesday. While the price retreated slightly, it was still up 1.7 percent on the week at US$3,749.21 by Thursday's close.
The silver price saw more significant gains, rising 8.14 percent to set a year-to-date high of US$45.19 per ounce at 4 p.m. EST Thursday. The silver price is trading at 14 year highs and has been closing in on its record US$47.91 set in March 2011.
Copper had sizable gains this week on the news of the closure of Freeport’s Grasberg mine discussed above. The copper price was up 5 percent on Wednesday, but shed some gains Thursday to end the day with a weekly gain of 4.12 percent to US$4.80 per pound. The S&P Goldman Sachs Commodities Index (INDEXSP:SPGSCI) gained 1.54 percent gain to end Thursday at 558.11.
Top Canadian mining stocks this week
How did mining stocks perform against this backdrop?
Take a look at this week’s five best-performing Canadian mining stocks below.
Stocks data for this article was retrieved at 4:00 p.m. EDT on Thursday using TradingView's stock screener. Only companies trading on the TSX, TSXV and CSE with market caps greater than C$10 million are included. Mineral companies within the non-energy minerals, energy minerals, process industry and producer manufacturing sectors were considered.
1. Lithium Americas (TSX:LAC)
Weekly gain: 126.93 percent
Market cap: C$2.02 billion
Share price: C$9.94
Lithium Americas is a lithium development company focused on advancing its flagship Thacker Pass project in Nevada, US, which is considered a critical component of the US’s domestic lithium supply chain.
The project is a 62/38 joint venture between Lithium America and General Motors (NYSE:GM), with the latter investing US$625 million in the project last year for its stake. The companies are currently working to advance Phase 1 of the project into production, targeting a capacity of 40,000 metric tons per year of battery-quality lithium carbonate. First production is expected in Q4 2027, and GM has the right to buy all Phase 1 lithium production.
Shares in the company surged this week following news reports on the status of a US$2.26 billion loan from the US Department of Energy (DOE). On Tuesday, Reuters reported that the White House is seeking an equity stake of up to 10 percent in Lithium Americas as it renegotiates the terms of the loan. The company had planned to make its first draw from the loan this month, according to Reuters' sources.
On Wednesday, Lithium Americas noted its rising share price in a press release about the situation. The company stated it was continuing to work with the DOE and General Motors to reach a mutually agreeable resolution regarding the first draw of the loan and potential amendments, noting discussions also included the topic of "corresponding consideration," or fair compensation, for the lithium company.
2. Scandium Canada (TSXV:SCD)
Weekly gain: 75 percent
Market cap: C$20.09 million
Share price: C$0.07
Scandium Canada is a scandium exploration company working to advance its Crater Lake scandium project in Northern Québec, Canada. The property consists of 96 contiguous claims covering an area of 47 square kilometers. To date, the company has identified five primary zones of interest at Crater Lake.
An updated mineral resource estimate released on May 12 demonstrated an indicated resource of 16.3 million metric tons of ore at an average grade of 277.9 grams per metric ton (g/t) scandium oxide, plus an inferred resource of 20.9 million metric tons at 271.7 g/t. The MRE also included grades of other rare earths at the project.
Gains in Scandium Canada’s share price began when trading opened Tuesday, the day after Reuters reported on White House plans to source scandium oxide from Rio Tinto (ASX:RIO,NYSE:RIO,LSE:RIO), which produces scandium oxide from its facility in Québec.
The company's shares continued rising throughout the week. On Wednesday, Reuters reported that the Group of Seven nations is discussing instituting rare earth price floors as a means to increase rare earth production in their countries to counter China’s dominance. The considerations follow the G7 leaders' announcement of a critical minerals action plan in June, which aims to strengthen the Western supply of critical minerals.
In company news, on Thursday Scandium Canada announced an update on advancements for its proprietary aluminum-scandium alloys, which it is aiming to commercialize.
3. Sendero Resources (TSXV:SEND)
Weekly gain: 64.58 percent
Market cap: C$14.74 million
Share price: C$0.79
Sendero Resources is a copper and gold exploration company focused on its Peñas Negras copper-gold project located along the border between Chile and Argentina in the Vicuña mining district.
Vicuña is home to several significant operations, including the Josemaria and Filo del Sol copper-gold mines, which are 50/50 joint ventures between Lundin Mining (TSX:LUN) and BHP Group (ASX:BHP,NYSE:BHP,LSE:BHP).
Peñas Negras covers an area of 211 square kilometers in Argentina's portion of the district and bears geological similarities to the aforementioned deposits, according to Sendero.
Shares in the company were up this week, but the company has not released news since July 21, when it reported granting stock options to company employees and consultants.
4. Tincorp Metals (TSXV:TIN)
Weekly gain: 58.82 percent
Market cap: C$14.65 million
Share price: C$0.27
Tincorp Metals is a mineral exploration company with a pair of tin assets in Bolivia, and also owns a gold project in the Yukon, Canada.
Its SF Tin project covers a 2 square kilometer area in the Potosí Department of West-central Bolivia. The site hosts a historical open-pit mine and was previously explored by Rio Tinto in the 1990s. Tincorp's 2022 exploration program encountered a highlighted intercept of 0.20 percent tin, 0.94 percent zinc, 0.17 percent lead and 24.01 g/t silver over 182.6 meters.
The company’s Porvenir project is an 11.25 square kilometer property in Western Bolivia that hosts historical open-pit and underground mining operations. Its exploration of the site in 2023 encountered a highlighted intercept with 0.65 percent tin, 1.97 percent zinc, 4 g/t silver and 0.10 percent copper over 21.2 meters.
The most recent news from Tincorp came on September 17 when it announced it had closed on a non-brokered private placement for 3 million common shares for gross proceeds of C$375,000. The company said it intends to use the net proceeds for working capital requirements and corporate purposes.
5. Wealth Minerals (TSXV:WML)
Weekly gain: 58.33 percent
Market cap: C$56.41 million
Share price: C$0.19
Wealth Minerals is a lithium exploration and development company with several Chilean lithium brine assets. Much of its news in Q2 and Q3 has been about advancing its Kuska project in the Salar de Ollagüe. The Kuska project covers 10,500 hectares in the Antofagasta region near the Bolivian border.
In May, the company created the Kuska Minerals 95/5 joint venture with the Quechua Indigenous Community of Ollagüe for the Kuska project.
A February 2024 preliminary economic assessment (PEA) for Kuska demonstrated an indicated resource of 139,000 metric tons of contained lithium from 8 million cubic meters of brine with an average grade of 175 milligrams per liter lithium. The report also demonstrated a post-tax net present value of US$1.15 billion, with an internal rate of return of 28 percent and a payback period of 6.9 years.
In September 2024, the Chilean government selected the Salar de Ollagüe to be among the first group of six salars considered for production licenses. Wealth applied for a special lithium operation contract (CEOL) for Kuska, but was denied due to not meeting the criteria of 80 percent ownership of the area designated by Chile, referred to as a polygon, that contained its concessions.
On Tuesday, the company reported that the Chilean government has reopened applications after simplifying the process for assigning a CEOL with revised requirements. During consultation with the local Indigenous communities, the ministry agreed to exclude "the areas of greatest cultural interest to Indigenous communities and the populated areas that were part of the polygon." Wealth Minerals is now verifying it meets all conditions before reapplying.
The following day, Wealth announced that it had entered into a letter agreement to acquire the past-producing Andacollo Oro Gold project in Chile. The project has historic measured and indicated resources of 2.02 million ounces of gold from 130 million metric tons with a grade of 0.48 g/t.
According to the company, it believes the acquisition is the right choice for shareholders as it expects the drivers of the current investment interest in gold, namely worry about monetary and fiscal policies, to remain unchanged.
Additionally, in connection with the transaction, the company announced it was opening a non-brokered private placement for a minimum of 41.67 million shares with the intention of raising gross proceeds of C$5 million.
FAQs for Canadian mining stocks
What is the difference between the TSX and TSXV?
The TSX, or Toronto Stock Exchange, is used by senior companies with larger market caps, and the TSXV, or TSX Venture Exchange, is used by smaller-cap companies. Companies listed on the TSXV can graduate to the senior exchange.
How many mining companies are listed on the TSX and TSXV?
As of May 2025, there were 1,565 companies listed on the TSXV, 910 of which were mining companies. Comparatively, the TSX was home to 1,899 companies, with 181 of those being mining companies.
Together, the TSX and TSXV host around 40 percent of the world’s public mining companies.
How much does it cost to list on the TSXV?
There are a variety of different fees that companies must pay to list on the TSXV, and according to the exchange, they can vary based on the transaction’s nature and complexity. The listing fee alone will most likely cost between C$10,000 to C$70,000. Accounting and auditing fees could rack up between C$25,000 and C$100,000, while legal fees are expected to be over C$75,000 and an underwriters’ commission may hit up to 12 percent.
The exchange lists a handful of other fees and expenses companies can expect, including but not limited to security commission and transfer agency fees, investor relations costs and director and officer liability insurance.
These are all just for the initial listing, of course. There are ongoing expenses once companies are trading, such as sustaining fees and additional listing fees, plus the costs associated with filing regular reports.
How do you trade on the TSXV?
Investors can trade on the TSXV the way they would trade stocks on any exchange. This means they can use a stock broker or an individual investment account to buy and sell shares of TSXV-listed companies during the exchange's trading hours.
Article by Dean Belder; FAQs by Lauren Kelly.
Don't forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Dean Belder, hold no direct investment interest in any company mentioned in this article.
Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
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24 September
Lithium Americas Shares Spike as Trump Admin Seeks Equity Stake
The Trump administration is pressing for up to a 10 percent equity stake in Lithium Americas (TSX:LAC,NYSE:LAC) as it renegotiates the terms of a US$2.26 billion loan tied to the Thacker Pass project.
Two people familiar with the talks told Reuters on Tuesday (September 23) that the stake was proposed by the US government during recent discussions over adjustments to the loan’s repayment structure.
In response, Lithium Americas offered the government no-cost warrants equivalent to 5 to 10 percent of its common shares, along with funds to cover administrative costs tied to the changes. The company had requested changes to the amortization schedule, but not to the overall repayment timeline or interest owed.
The request marks the latest instance of the Trump administration intervening directly in strategic sectors.
The White House has previously pursued similar arrangements with Intel (NASDAQ:INTC), MP Materials (NYSE:MP) and other firms considered vital to national security. “President Trump supports this project. He wants it to succeed and also be fair to taxpayers,” a White House official told Reuters. “But there’s no such thing as free money.”
Located about 25 miles south of Nevada’s border with Oregon, Lithium Americas says Thacker Pass is set to become the western hemisphere’s largest lithium source once fully operational. Phase 1 is designed to produce 40,000 metric tons of battery-grade lithium carbonate per year, enough for roughly 800,000 electric vehicles.
Full commercial output is scheduled for 2028, following the completion of the processing plant and mine infrastructure; construction is already underway, with more than 600 contractors on site.
The scale of production would dwarf current US lithium output. At present, the country produces fewer than 5,000 metric tons annually from Albemarle's (NYSE:ALB) Silver Peak facility in Nevada.
By contrast, global leaders Australia and Chile dominate mining, while China exerts outsized control over refining, processing more than 75 percent of the world’s lithium into battery-ready material.
The project was approved in the closing days of Trump’s initial term and received final financing under the Biden administration in 2024, when the Department of Energy’s Loan Programs Office (LPO) closed the record US$2.26 billion loan.
General Motors (NYSE:GM), which invested US$625 million in Lithium Americas last year for a 38 percent stake, holds rights to purchase all of the mine’s Phase 1 lithium output and part of Phase 2 output for the next two decades.
Trump officials are now pressing for assurances that GM will uphold those commitments, and are also seeking to shift some project control away from the automaker and toward Washington, according to Reuters' sources.
For its part, Lithium Americas has stayed measured in its comments.
“We respect the LPO’s decision to pursue a restructure and remain in active discussions with the (Department of Energy) and our partner, GM, and will provide an update at the appropriate time,” the company said.
The reports of a potential government stake ignited trading activity. Shares of Lithium Americas jumped more than 90 percent in New York on Wednesday (September 24), climbing from about US$3 to as much as US$6.12.
Lithium Americas performance, September 19 to 24, 2025.
Chart via Google Finance.
GM shares also ticked higher, up about 2.5 percent in early trading.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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24 September
Livium Extends Agreement with LG Energy Solution until 2029
Livium Ltd (ASX: LIT) ("Livium" or the "Company") is pleased to announce that its wholly owned subsidiary Envirostream Australia Pty Ltd (Envirostream) - a leading battery recycler - has signed a new agreement ("Agreement") with LG Energy Solution to recycle and process lithium-ion batteries (LIBs) in Australia. This new contract further extends the scope of services from the previously expanded contract signed in March 2024. The Agreement now encompasses recycling end-of-life residential battery units collected for normal service reasons.
HIGHLIGHTS
- Envirostream has signed a new three-year agreement with LG Energy Solution to provide battery recycling and disposal services, extending the contract to March 2029
- The new agreement maintains the scope and terms of the prior agreement' in all material respects, including exclusivity for recalled residential batteries defined under the prior agreement
- The new agreement also expands the scope of supply, on a non-exclusive basis, to include end-of-life residential lithium-ion batteries collected in Australia for normal service reasons
Now valid until March 2029, the extended Agreement gives Envirostream guaranteed volumes of batteries collected at end-of-life for general service reasons. Customary termination rights exist on the occurrence of an insolvency event or any unremedied breach under the Agreement. Under the Agreement, LG Energy Solution has a right to purchase black mass (mixed metal dust or MMD), at market prices, generated from lithium-ion batteries supplied to Envirostream.
The Agreement with LG Energy Solution directly aligns with Envirostream's strategic priorities for accelerated growth. By securing this long-term agreement, the company is solidifying its position within the high-growth, high-margin market of large-format lithium-ion batteries (LIBs) from electric vehicles (EVs) and energy storage systems (ESS). This move is a proactive step to capitalise on the anticipated surge in demand for recycling services, with industry reports forecasting robust growth in EV & ESS battery recycling demand over the remainder of the decade.
Furthermore, this contract embodies Envirostream's continued pursuit of delivering high-quality services to key industry leaders. The Company anticipates that this significant win will not only secure a consistent volume of high-value materials but also serve as a powerful testament to its capabilities, providing the momentum needed to attract and secure additional market-leading clients.
Comment from Livium CEO and Managing Director, Simon Linge
"This new agreement with LG Energy Solution is validation of the quality of Envirostream's service and strategic focus. By extending and expanding our successful relationship with a global leader like LG Energy Solution, we are not only securing a consistent, high-value supply of large-format batteries but also cementing our position as the go-to battery recycling partner in Australia. This contract is a direct result of our proven capabilities and our commitment to building a circular economy. We are perfectly positioned to capitalize on the growth of the EV and ESS markets, and we are confident this momentum will drive further partnerships with other market-leading clients in the future."
Comment from Managing Director of LG Energy Solution Australia Pty Ltd, Philip Crotty
"We are pleased to reaffirm and strengthen our relationship with Envirostream through this amended agreement. Over the course of our collaboration, we have achieved significant milestones in delivering safe, sustainable, and responsible battery management solutions. This renewed agreement not only reflects the trust and shared commitment between our organisations, but also paves the way for even greater cooperation in the years ahead. We look forward to continuing to work together to advance circular economy outcomes, support customers, and contribute to a cleaner energy future."
Click here for the full ASX Release
This article includes content from Livium, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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18 September
Landsat Data Shaping Lithium-Mining Plans at Nevada’s Thacker Pass
A Nevada lithium project central to US efforts to secure domestic mineral supply is leaning on a half-century-old satellite program for modern answers.
The US Geological Survey’s (USGS) Landsat program, managed with NASA, has provided continuous Earth observations since 1972. Its freely available images allow scientists and industry leaders to measure landscape changes with precision.
In Northern Nevada, those insights are proving crucial as Lithium Americas (TSX:LAC,NYSE:LAC) works to advance Thacker Pass in a way that meets strict environmental and land-use standards.
“Landsat imagery is valuable for critical minerals project development because it provides consistent, long-term data that document land use changes and geological features, assess environmental receptors and support planning decisions,” said Alexi Zawadzki, president of North American operations for Lithium Americas, in a USGS report.
When planning began, Landsat data revealed that the original mine site overlapped with important sage-grouse habitat.
Although the bird is not a protected species, its sharp population decline since the 1960s has made it an indicator of ecosystem health in Nevada’s rangelands. The finding prompted developers to shift the project six miles south, away from prime territory.
Water use is another critical challenge faced by the project. Landsat data has been paired with field checks to estimate groundwater levels, using differences in vegetation to infer depth.
With this data, the Thacker Pass project aims to recycle processed water up to seven times and to operate as a “zero liquid discharge facility.”
Unlike traditional lithium brine operations, the project will extract lithium from clay deposits. Tailings will be stored in dry facilities and later reused for reclamation work.
Economic promise
Lithium Americas estimates construction of Thacker Pass could generate more than US$700 million annually and support 1,800 jobs. Once operational, economic activity linked to the mine could average US$2.1 billion per year, according to a University of Nevada, Reno, study.
Lithium is a cornerstone of batteries that power smartphones, laptops and electric vehicles. The US ranks third globally in known lithium resources but remains dependent on imports.
Due to the resource’ growing importance, developing domestic supply has become a matter of both industrial policy and national security.
Landsat’s value, is hardly confined to mining. A 2023 economic analysis placed its annual contributions to US industries at US$25.6 billion, spanning everything from gold exploration to reduced insurance costs for farmers.
For Thacker Pass, the test will come as mining gets underway. But for now, the view from space has already reshaped how the project is planned and envisioned moving forward.
By applying Landsat data, planners hope to show that resource extraction and environmental stewardship can advance together.
Don't forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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17 September
Livium Expands Clean Energy Waste Recycling Capabilities
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