U.S. lithium supplier Ioneer said Monday that its Rhyolite Ridge lithium-boron mining project in Nevada has advanced to the final stages of federal permitting, a milestone that puts it on track to begin production in 2026 amid soaring demand for the critical mineral stoked by the Democratic climate…
U.S. lithium supplier Ioneer said Monday that its Rhyolite Ridge lithium-boron mining project in Nevada has advanced to the final stages of federal permitting, a milestone that puts it on track to begin production in 2026 amid soaring demand for the critical mineral stoked by the Democratic climate law.
Lithium demand has skyrocketed alongside a growing push for electric vehicle adoption. According to a Benchmark analysis, demand is forecast to rise to a whopping 2.4 million tonnes LCE, or lithium carbonate equivalent, in 2030 — far higher than the 600,000 tons expected to be produced in 2022.Ioneer announced the news Monday after the Bureau of Land Management said it would publish a notice of intent in the Federal Register to begin preparation of an environmental impact statement.
The Rhyolite Ridge lithium-boron deposit is the only known lithium-boron deposit in North America and one of only two known deposits in the world. Earlier this year, Ioneer signed a deal to supply 4,000 tons of lithium carbonate annually for five years to Prime Planet Energy & Solutions, the joint battery venture between Toyota and Panasonic.
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