Ioneer (ASX:INR,NASDAQ:IONR) has take a step forward at its Rhyolite Ridge lithium-boron project with the release of a final environmental impact statement from the US Bureau of Land Management.
In a Friday (September 20) press release, the company said Nevada-based Rhyolite Ridge is the first lithium project to reach this stage of the environmental permitting review process under the Biden administration.
According to Ioneer, the asset will increase the nation’s lithium supply by four times, reducing reliance on foreign sources, and will create hundreds of jobs with good compensation in the state’s Esmeralda County.
“Since Ioneer’s work at Rhyolite Ridge began in 2016, we have listened to members of the community and adapted our plans to maximize the project’s many economic benefits while minimizing indirect impacts to the community and environment,” said Managing Director Bernard Rowe. He added that this collaboration has strengthened the project.
Ioneer notes on its website that Rhyolite Ridge is among two advanced lithium projects in the US, and is expected to be a low-cost site. Its mine life is estimated at 26 years, during which time it’s seen powering 50 million electric vehicles.
Materials won’t be shipped to a separate processing facility, which Ioneer says will make for more efficient output.
“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,” added Executive Chairman James Calaway. “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.”
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.