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Ioneer Ltd’s (ASX:INR) final permit approval from the U.S. Federal Government for its Rhyolite Ridge Lithium-Boron project in Nevada has come through. Construction is now slated to kick off in 2025 for the project, which is tipped to quadruple the country’s lithium output.
The approval – granted by the Bureau of Land Management (BLM) – means Rhyolite Ridge is the first lithium project approved by the Biden government, as part of a wider government plan to boost critical minerals development.
The decision will help progress investment by Nevada’s Esmeralda County in relation to construction of the project starting in 2025, with first production expected in 2028.
The project is anticipated to create around 500 jobs during construction and 350 more during its time in operation, but crucially, will supply batteries for more than 370,000 Amercian-made electric vehicles each year. Battery materials to be processed on-site in the U.S.
Managing director Bernard Rowe said the approval was an important milestone for Ioneer.
“For more than six years, we have worked closely with state, federal and tribal governments, as well as the Fish Lake Valley community, to ensure the sound and sustainable development of our Rhyolite Ridge Lithium-Boron Project,” he said.
“We value our relationships with these stakeholders and appreciate their openness to engage, discuss concerns and develop solutions.
“Without that open and honest dialogue, such an outcome could never have been possible.”
He added the project would add millions in tax revenue for Esmeralda County.
Ioneer received a final Environmental Impact Statement (EIS) by the BLM last month – marking the end of its formal federal permitting process, which had begun in early 2020.
The company has been trading at 28 cents.
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