{"id":14201,"date":"2025-01-22T06:52:56","date_gmt":"2025-01-22T06:52:56","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2025\/01\/22\/ioneer-closes-us996-million-american-government-loan-for-rhyolite-ridge\/"},"modified":"2025-01-22T06:52:56","modified_gmt":"2025-01-22T06:52:56","slug":"ioneer-closes-us996-million-american-government-loan-for-rhyolite-ridge","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2025\/01\/22\/ioneer-closes-us996-million-american-government-loan-for-rhyolite-ridge\/","title":{"rendered":"Ioneer Closes US$996 Million American Government Loan for Rhyolite Ridge"},"content":{"rendered":"<\/p>\n<p><strong>Ioneer (ASX:INR,NASDAQ:IONR) has received a US$996 million loan from the US <\/strong><strong>Department of Energy\u2019s (DOE) Loan Programs Office (LPO) to develop an on-site processing facility at its Rhyolite Ridge lithium-boron project.<\/strong><\/p>\n<p>Filed under the DOE\u2019s Advanced Technology Vehicles Manufacturing program, the investment is part of the LPO\u2019s work to build a critical minerals supply chain in the US, while creating rural jobs and supporting American manufacturers.<\/p>\n<p>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.<\/p>\n<p>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.<\/p>\n<p>\u201cThe need for domestically sourced and processed lithium and boron has never been greater,\u201d said Ioneer Executive Chairman James Calaway in a Monday (January 20) press release. \u201cThe United States requires Rhyolite Ridge and more projects like it if we want secure domestic critical mineral production. It\u2019s as simple as that.\u2019 <\/p>\n<p>Rhyolite Ridge is located in Esmeralda County, Nevada, and the company believes that once operational it will increase the nation\u2019s lithium supply by four times, reducing reliance on foreign sources. <\/p>\n<p>Ioneer also notes that the asset is North America\u2019s 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.<\/p>\n<p>Managing Director Bernard Rowe added that the project is fully permitted and construction ready.<\/p>\n<p>\u201c(It) will not only create new jobs in Nevada but foster innovation across the country,\u2019 he said. <\/p>\n<p>The US Bureau of Land Management released a final environmental impact statement for the project in September 2024. <\/p>\n<p>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.<\/p>\n<p>Construction is targeted for late 2025, and is expected to last an average of 36 months.<\/p>\n<p><strong>Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.<\/strong><\/p>\n<\/p>\n<div>This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ioneer (ASX:INR,NASDAQ:IONR) has received a US$996 million loan from the US Department of Energy\u2019s (DOE) Loan Programs Office (LPO) to develop an on-site processing facility at its Rhyolite Ridge lithium-boron project. Filed under the DOE\u2019s Advanced Technology Vehicles Manufacturing program, the investment is part of the LPO\u2019s work to build a critical minerals supply chain [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":14202,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-14201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/14201","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=14201"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/14201\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/14202"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=14201"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=14201"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=14201"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}