Ioneer Advances Rhyolite Ridge Project After Joint Venture Termination

ioneer Limited ( (AU:INR) ) has provided an announcement.

Ioneer Ltd announced that Sibanye-Stillwater Ltd has decided not to proceed with their joint venture on the Rhyolite Ridge Lithium-Boron Project. Despite this, Ioneer is moving forward with the project, having secured a $996 million loan from the U.S. Department of Energy and obtaining necessary federal permits. The company is now seeking a strong equity partner to help bring the project to production, which is anticipated to significantly increase U.S. lithium production and support electric vehicle manufacturing.

More about ioneer Limited

Ioneer Ltd is an emerging producer of lithium and boron, owning 100% of the Rhyolite Ridge Lithium-Boron Project. It is the only known lithium-boron deposit in North America and one of only two such deposits globally. The project is a key component of Nevada’s Lithium Loop and is expected to significantly contribute to the production of critical materials for electric vehicles.

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Technical Sentiment Consensus Rating: Buy

Current Market Cap: $239.1M

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