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Ioneer (ASX:INR) awards contract in step towards Rhyolite Ridge development

Materials
ASX:INR      MCAP $422.4M
24 August 2021 15:50 (AEST)
Ioneer (ASX:INR) - Executive Chairman, James D. Calaway

Source: Ioneer

Ioneer (INR) has awarded an engineering and equipment supply contract to Veolia Water Technologies for the development of its Rhyolite Ridge Project in Nevada.

The project is the only known lithium-boron deposit in North America and one of two known deposits of this kind in the world.

The two companies have been working together since 2018 during the pilot plant and definitive feasibility (DFS) phases. INR said this contract marked a major step towards construction and development.

In 2020, the company completed the DFS which it said confirmed Rhyolite Ridge as a world-class lithium and boron project that is expected to become a globally significant, long-life, low-cost source of lithium and boron.

Veolia’s business focuses on the design and delivery of systems for purification, recovery and drying of inorganic chemicals using evaporation and crystallisation technologies.

Moreover, the company provides research and development capabilities to facilitate the understanding of multi-component systems and their optimisation for better operation and final product quality.

The contract involves two parts, initially phase one includes the supply of engineering services for detailed design, which Veolia has reportedly already begun.

The second phase requires supply of equipment but is conditional on a final investment decision on the project by Ioneer’s board of directors.

This agreement is reportedly the largest single supply contract INR will award as part of the project build.

Ioneer Managing Director Bernard Rowe said the two companies had built a strong relationship and mutual respect over the past three years.

“Veolia is a recognised leader in process design and engineering, with direct experience in developing solutions for lithium processing facilities,” he said.

“Veolia’s experience and capabilities are important to meet required purity standards in our production facilities.”

In turn, Veolia said it was excited to be part of Ioneer’s commitment to providing the materials necessary to further develop renewable energy and clean technologies.

Shares closed 5.10 per cent higher at 51.5 cents on August 24.

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