Ioneer received an offer of a projected loan of up to US$700 million from the U.S. Department of Energy

Ioneer Ltd (ASX: INR) announced that it had entered into a term sheet and received an offer of a conditional commitment for a projected loan of up to US$700 million from the U.S. Department of Energy (DOE) Loan Programs Office to fund the construction of the Rhyolite Ridge Lithium-Boron Project in Nevada, USA. As per the term sheet, the offered loan is for up to US$700 million for approximately ten years. The loan will be at an interest rate fixed from the date of each advance for the term of the loan at applicable U.S. Treasury rates.

The term sheet and loan from DOE show its strong support for the Rhyolite Ridge Project, and if finalised, the loan would be the first-ever by the DOE to fund the processing part of a project where lithium is extracted and refined at the site. The offered DOE loan is expected to finance a significant portion of the primary capital expenditure estimate, signifying an important step towards a complete funding package for Rhyolite Ridge.

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