Ioneer (ASX:INR) says it is one step closer to construction of its Rhyolite Ridge Lithium-Boron Project in the US after publication of the final Environmental Impact Statement (EIS) from the Bureau of Land Management.
The final EIS incorporates feedback received during the earlier public comment period and provides decision-makers and the public with detailed information relating to the project, including its on-site processing facility.
Executive Chairman James Calaway says the publication of the final EIS is a milestone for Rhyolite Ridge.
“This achievement underscores our company’s unwavering commitment to environmental stewardship and sustainable development,” Calaway says.
“We look forward to the conclusion of the 30-day statutory waiting period and timely issuance of the record of decision to advance Rhyolite Ridge into construction. We are eager to get to work in contributing to the domestic supply of critical materials essential for the transition to a clean energy future.”
Based on the current timeline, Ioneer, which has a market capitalisation of $432.42 million, expects to issue a record of decision next month and a final investment decision in December 2024.
Once completed, construction is expected to begin between 24 and 36 months afterwards. Construction will include supplying long-lead items.
Further, commercial production and product deliveries are expected to begin in 2028.
Ioneer anticipates the project becoming the first lithium project to reach this advanced stage of the environmental permitting review process under the Biden Administration, as part of its efforts to expedite US lithium production.
According to the US Geological Survey, the US has 14 million metric tonnes of lithium resources, making it the third largest globally, after Bolivia and Argentina with 23 million and 22 million metric tonnes, respectively.
Rhyolite Ridge is expected to create hundreds of jobs in rural Esmeralda County, Nevada, as well as quadruple the nation’s lithium supply.
As a result, the project will reduce reliance on foreign suppliers and processors, and develop a domestic source of needed materials in the US electric vehicle battery production supply chain.
Managing Director Bernard Rowe says since working on Rhyolite Ridge in 2016, the company has listened to members of the community and adapted plans to maximise the project’s economic benefits while also minimising indirect impacts to communities and the environment.
“Rhyolite Ridge is stronger because of the extensive collaboration and input from all involved stakeholders,” Rowe says.
“Today’s issuance not only advances the Rhyolite Ridge Project but brings the US closer to a more secure and sustainable source of domestic critical minerals.”
In 2023, global consumption of lithium was estimated to be 180,000 tonnes, which represents a 27% increase from the revised consumption figure of 142,000 tonnes in 2022, according to the US Geological Survey.
Ioneer is an emerging lithium-boron producer focused on its wholly owned Rhyolite Ridge Project in the US.
Write to Aaliyah Rogan at Mining.com.au
Images: Ioneer
