Lithium developer Ioneer has secured $700million in funding from the US Department of Energy for its Rhyolite Ridge project in Nevada mining criticalminerals investment resources finance
PERTH – Dual listed Ioneer on Monday confirmed the US Department of Energy had conditionally committed to a $700-million loan to develop the Rhyolite Ridge lithium/boron project, in Nevada.
“We are pleased to have finalised the term sheet and received a conditional commitment from the DoE for up to a $700-million loan from the ATVM program. The conditional commitment is the culmination of 23 months of discussions with, and due diligence by, the Loan Programs Office and it represents a significant milestone for Rhyolite Ridge.
Ioneer said on Monday that the company and Sibanye-Stillwater would continue to progress work on the engineering, complete additional drilling to delineate the southern limits of the deposit where mining is expected to commence and optimise the mine plan. Based on these outcomes, an updated capital and operating cost estimate would be provided to stakeholders before making a final investment decision.
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