During the quarter ending 30 June 2023, Ioneer Ltd (ASX: INR), an emerging lithium-boron supplier, made significant progress in the development of its Rhyolite Ridge Lithium-Boron Project in Nevada. The project's Mineral Resource estimate for the South Basin was updated, showing a substantial increase in tonnage and contained lithium. The estimate now includes both high-boron lithium mineralization and low-boron lithium mineralization, increasing lithium carbonate equivalent by 168% to 3.4 million metric tons (Mt) and boric acid equivalent by 18% to 14.1 Mt.
To strengthen the U.S. lithium battery and storage supply chain, Ioneer partnered with Dragonfly Energy in May. The federal permitting process (NEPA) is also advancing, and the company expects to publish a draft Environmental Impact Statement (EIS) in Q3 2023. Detailed engineering and procurement activities are ongoing, and construction is planned to begin in H1 2024. The project offers growth potential, and studies on the North and South Basins are progressing well. Ioneer is financially well-positioned with commitments of nearly US$1.2 billion. The company aims to provide a reliable and sustainable domestic source of lithium amid increasing global demand for electric vehicles and energy storage.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
