Company
ASX:INR
Ioneer is an emerging lithium-boron producer poised to become a globally significant producer of two critical minerals. The company's 100%-owned Rhyolite Ridge Lithium-Boron Project will provide a significant new source of two products necessary for permanent magnets, batteries, semiconductors, and military applications — strengthening the U.S. supply chain, reducing reliance on foreign sources, and bolstering national security.
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The globally recognised engineer’s appointment is a big step forward for ioneer at Rhyolite Ridge as it works to become the US’ first new lithium chemicals producer in more than 60 years.
New appointees Rob Stepper, Sasha Meyer and Kora Breschini bring deep mining, production engineering and supply chain expertise to the ioneer team.
The company is the 100%-owner of the Rhyolite Ridge Lithium-Boron Project in Nevada, the only known lithium-boron deposit in North America and one of only two known such deposits in the world.
It is the first offtake agreement of its kind for ioneer and means the company will supply lithium carbonate from its Rhyolite Ridge Project, the only known lithium-boron deposit in North America, once it reaches production in a few years.
The project will comprise a quarry, an overburden storage facility, the first sulphuric acid plant permitted in the State of Nevada, an ore processing facility responsible for boric acid and lithium carbonate production and a spent ore stor
The Rhyolite Ridge Lithium-Boron Project in Nevada is the only known lithium-boron deposit in North America and one of only two known such deposits in the world.
The company is the 100%-owner of the Rhyolite Ridge Lithium-Boron Project in Nevada, USA, the only known lithium-boron deposit in North America and one of only two known such deposits in the world.
The company has started the formal process of evaluating a secondary listing on a major US stock exchange, which is likely to take place in the second half of 2021.
Following the global shift toward electric vehicles to cut carbon emission, and the likely start of production from its Rhyolite Ridge Lithium-Boron Project in Nevada, USA, the company is expecting a surge in business in coming quarters.
Additional funds will allow the company to accelerate the advancement of Rhyolite Ridge Lithium-Boron Project, including finalising various offtake discussions and completing strategic funding discussions.
The placement can accelerate the development of Rhyolite Ridge once the necessary Federal and State permits to commence construction are received in the fourth quarter this year.
The company recently completed a joint automation study with Caterpillar, aimed at improving project safety and operational efficiency at Rhyolite Ridge.
With the study complete and Rhyolite Ridge appearing to be a very favourable candidate for an autonomous haulage system (AHS), ioneer and Caterpillar have signed a Memorandum of Understanding to move the initiative forward.
The company is encouraged by the administration’s commitment to transition to electric vehicles and the development of a domestic lithium-ion battery materials supply chain.
The company believes that diverse backgrounds, expertise, and extensive networks of two newly appointed members will significantly strengthen the depth and breadth of its board.
The ability to supply both lithium carbonate and lithium hydroxide creates a significant advantage for the company with Rhyolite Ridge well-positioned to supply the US domestic market.
The company is well-placed to capitalise on demand recovery and likely supply shortages, as governments increasingly consider incentive schemes to rapidly reduce reliance on fossil fuels and lower greenhouse gas emissions.
Policy changes could create hundreds of thousands of new jobs, secure American global EV manufacturing leadership, dramatically improve public health and significantly reduce carbon pollution.
The company has been able to confidently continue detailed engineering activities to be construction-ready in the second quarter of 2021.
The equipment and services during the first five years of operation are valued at around US$100 million. Caterpillar will also offer finance solutions.
