Ioneer

About

Ioneer develops Rhyolite Ridge mine and on-site processing to produce lithium and boron, using steam-powered, grid-independent processing, avoiding evaporation ponds, halving water use and recycling half of process water.

Mission

Ioneer is developing the Rhyolite Ridge Lithium‑Boron Project and an on‑site processing facility to produce lithium and boron directly at the mine. The company emphasizes a reduced operational footprint by avoiding evaporation ponds, cutting water use roughly in half versus comparable brine operations, and recycling half of process water. Its steam‑powered facility is designed to operate independently of the Nevada grid, and the on‑site processing is intended to reduce ocean transport and support a domestic critical‑minerals supply chain. Once operational, Rhyolite Ridge is projected to quadruple U.S. domestic lithium supply, power an estimated 370,000 electric vehicles per year, create about 500 construction jobs and 350 long‑term jobs, and represent the first new U.S. lithium mine in nearly 60 years and first new boron mine in close to a century. Financially, Ioneer closed a $996 million loan from the U.S. Department of Energy to support development of the processing facility; the loan comprises $968 million in principal and $28 million in capitalized interest and reflects a $268 million increase from a January 2023 conditional commitment. The project will generate dual revenue streams from lithium and boron and aims to establish a sustainable lithium loop in Nevada.

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