Rhyolite Ridge Lithium Project in Nevada Receives Conditional DOE Loan

January 18, 2023--Researched by Industrial Info Resources (Sugar Land, Texas)--The U.S. Department of Energy (DOE) has announced a conditional loan of $700 million for ioneer Limited's (Sydney, New South Wales) Rhyolite Ridge Lithium-Boron Project in Silverpeak, Nevada, which could be the second operational lithium mine in the U.S. Ioneer has announced three offtake agreements for lithium from the project, and continues to pursue other partners.

The proposed loan is for approximately 10 years, and is being offered through the DOE's Loan Programs Office's (LPO) Advanced Technology Vehicles Manufacturing (ATVM) program, which aims to support the Biden administration's efforts to boost domestic production of critical minerals--such as lithium, rare-earth elements, nickel and cobalt--that are key to clean-energy technologies such as EVs and related components and materials.