On October 25, Ioneer Ltd announced that it has received the final federal approval for its Rhyolite Ridge Lithium-Boron Project in Nevada, marking a critical step in expanding U.S. domestic lithium production. This approval from the Bureau of Land Management (BLM), known as the record of decision, is a pivotal permit that clears the way for construction to begin. The authorization follows a thorough six-year review process, which included public consultation and detailed environmental evaluations. Construction is set to start in January 2025, with production anticipated by 2028.

The Rhyolite Ridge project is poised to become a significant lithium and boron resource within the U.S., capable of producing enough lithium annually to support approximately 370,000 electric vehicles. This aligns with national objectives to strengthen clean energy infrastructure and bolster the electric vehicle (EV) supply chain. The project has also attracted substantial financial backing, including a $700 million loan from the U.S. Department of Energy and an equity investment of $490 million from mining company Sibanye Stillwater.

Expressing his excitement, Ioneer Chairman James Calaway highlighted the project's milestone status: "We're proud to be the first U.S. lithium mine permitted by the Biden administration." This advancement is a positive indicator for the U.S. critical minerals sector, reflecting efforts to reduce dependency on foreign lithium sources.

Despite its anticipated benefits, the project has encountered pushback from environmental groups concerned about its impact on endangered species. Specifically, conservationists have raised alarms over the Tiehm's buckwheat flower, a rare plant found within the project area. The Center for Biological Diversity (CBD) has announced intentions to file a lawsuit against the federal government in an effort to halt the project, citing potential risks to this species.

In response, the BLM and Ioneer have implemented various protective measures. Ioneer has made significant adjustments to its project plans, including relocating the western boundary of the quarry to safeguard Tiehm’s buckwheat. The company has also moved infrastructure away from critical habitats essential to pollinators and has committed to water conservation efforts by establishing a processing facility designed to recycle up to half of the water used in production; this facility is already 70% complete. Additionally, the project incorporates cultural sensitivity measures developed in consultation with local tribes.

The approval of the Rhyolite Ridge project represents a substantial step forward for U.S. lithium production, meeting the demands of an increasingly EV-driven market while addressing environmental concerns. This project underscores the nation’s focus on securing critical mineral resources essential for its clean energy transition and reducing reliance on international suppliers.