Proactive’s Tylah Tully breaks down ‘Just the Facts’ from Ioneer Ltd (ASX:INR, OTC:GSCCF, NASDAQ:IONR) latest ASX announcement.
Its reached a significant milestone for its Rhyolite Ridge Lithium-Boron Project in Nevada, with the Bureau of Land Management (BLM) releasing the final environmental impact statement (EIS).
The U.S. Fish and Wildlife Service (US FWS) also concluded that the project would not jeopardise critical habitat, marking the end of the consultation process under the endangered species act (ESA). This allows the project to proceed toward construction.
Located in Esmeralda County, Nevada, the Rhyolite Ridge project is the first lithium project to reach this stage under the Biden Administration, supporting efforts to increase U.S. lithium production and reduce reliance on foreign suppliers. The project is expected to create 400-500 jobs during construction and 250-300 during operation.
The final EIS includes public feedback and details about the project’s on-site processing facility. It represents a key step in the national environmental policy act (NEPA) permitting process, achieved through cooperation with federal, state, local agencies, and Tribal Nations. Following a 30-day waiting period, a record of decision (ROD) could be issued, allowing the company to proceed toward a final investment decision and begin construction, with production targeted for 2028.
Ioneer shares surged by over 21% following the news.