Sightful Invest
  • Business
  • Investing
  • Politics
  • Stock
Top Posts
Top 5 moments from Charlie Kirk’s memorial service...
Trump set to approve TikTok deal ensuring majority-American...
Harris is speaking. This time, she isn’t bending...
Hamas letter to Trump asks for 60-day ceasefire...
Trump must make UN funding conditional on real...
Democrats skip Charlie Kirk Arizona memorial after 58...
‘Due to overhelming support:’ Turning Point USA says...
Thune slams Democrats’ ‘cold-blooded partisan’ tactics as funding...
Macron stakes anti-Trump global role with Gaza initiative...
Trump assassination attempt suspect Ryan Routh questions first...
  • Business
  • Investing
  • Politics
  • Stock

Sightful Invest

Investing

Ioneer Closes US$996 Million American Government Loan for Rhyolite Ridge

by admin January 22, 2025
January 22, 2025
Ioneer Closes US$996 Million American Government Loan for Rhyolite Ridge

Ioneer (ASX:INR,NASDAQ:IONR) has received a US$996 million loan from the US Department of Energy’s (DOE) Loan Programs Office (LPO) to develop an on-site processing facility at its Rhyolite Ridge lithium-boron project.

Filed under the DOE’s Advanced Technology Vehicles Manufacturing program, the investment is part of the LPO’s work to build a critical minerals supply chain in the US, while creating rural jobs and supporting American manufacturers.

The US$996 million loan has a principal of US$968 million, with the remaining US$28 million as capitalised interest. It also represents a US$268 million principal increase from a conditional loan provided in January 2023.

Ioneer said it has engaged with the LPO for more than three years, with the timing of the transaction driven by its receipt of a positive record of decision from the Department of the Interior in October 2024.

“The need for domestically sourced and processed lithium and boron has never been greater,” said Ioneer Executive Chairman James Calaway in a Monday (January 20) press release. “The United States requires Rhyolite Ridge and more projects like it if we want secure domestic critical mineral production. It’s as simple as that.’

Rhyolite Ridge is located in Esmeralda County, Nevada, and the company believes that once operational it will increase the nation’s lithium supply by four times, reducing reliance on foreign sources.

Ioneer also notes that the asset is North America’s only known lithium-boron deposit, and one of only two such deposits worldwide. It could power upward of 50 million electric vehicles over a 26 year mine life.

Managing Director Bernard Rowe added that the project is fully permitted and construction ready.

“(It) will not only create new jobs in Nevada but foster innovation across the country,’ he said.

The US Bureau of Land Management released a final environmental impact statement for the project in September 2024.

At the time, Ioneer said Rhyolite Ridge was the first lithium project to reach this stage of the environmental permitting review process under the Biden administration.

Construction is targeted for late 2025, and is expected to last an average of 36 months.

Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.

This post appeared first on investingnews.com

previous post
Palladium Price Forecast: Top Trends for Palladium in 2025
next post
When is the Starlink IPO Date and Can You Invest?

You may also like

Top 10 Copper Producers by Country

February 26, 2025

BTR accelerates Second Fortune high-grade mine development

December 5, 2024

A Guide to DeFi: Understanding Decentralized Finance

September 12, 2025

Forum Announces Final Assay Results from Tatiggaq; Drill...

January 13, 2025

Germany, Italy Face Pressure to Repatriate US$245 Billion...

June 25, 2025

Biomarker Technologies for Cardiovascular Health

August 6, 2024

Mawson Finland Limited Presents Downhole EMGeophysics: Multiple Deep...

November 19, 2024

Stardust Power Acquires Site, Receives Key Permit And...

December 22, 2024

Lode Gold Closes $350,000 Financing

January 1, 2025

Ramp Metals Initiates Drill Program for the Rottenstone...

April 2, 2025

Recent Posts

  • Top 5 moments from Charlie Kirk’s memorial service in Arizona
  • Trump set to approve TikTok deal ensuring majority-American investor control: White House
  • Harris is speaking. This time, she isn’t bending to Biden’s bullies
  • Hamas letter to Trump asks for 60-day ceasefire deal to release half of hostages, sources say
  • Trump must make UN funding conditional on real reforms, ex-diplomat urges

    Sign up for our newsletter to receive the latest insights, updates, and exclusive content straight to your inbox! Whether it's industry news, expert advice, or inspiring stories, we bring you valuable information that you won't find anywhere else. Stay connected with us!


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Categories

    • Business (927)
    • Investing (3,032)
    • Politics (3,709)
    • Stock (4)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sightfulinvest.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 Sightful Invest. All Rights Reserved.