US approves mega lithium mine in Nevada
The mine operated by Australian company Ioneer will produce enough lithium to supply the batteries for approximately 370,000 electric vehicles each year.
The US Interior Department gave its final approval to a massive lithium mine in the Nevada desert, a project that is expected to quadruple domestic production of the mineral that will play a crucial role in the transition to renewable energy.
The Rhyolite Ridge mine operated by Australian company Ioneer will produce enough lithium to supply the batteries for approximately 370,000 electric vehicles each year.
It also unlocks a USD 700 million loan from the US Department of Energy and another USD 490 million in equity investment from Sibanye Stillwater as funding for the project, Reuters reported.
“There are few deposits in the world as impactful as Rhyolite Ridge,” said Ioneer Executive Chairman James Calaway.
Construction is set to start next year, with production slated to begin in 2028.
“This permit gives us a license to commence construction in 2025 and begin our work in creating hundreds of good-paying rural jobs, generating millions in tax revenue for Esmeralda County, and bolstering the domestic production of critical minerals,” said Ioneer managing director Bernard Rowe, according to a report by AFP.
The project has been opposed by environmental groups who say it violates the Endangered Species Act.
“This is a science-based decision,” Laura Daniel-Davis, the Interior Department’s acting deputy secretary, told Reuters. “We’re trying to send a signal that there’s no topic with greater importance than addressing climate change.”
She said bolstering domestic lithium supplies is “essential to advancing the clean energy transition and powering the economy of the future.”
“This project demonstrates how partnership and collaboration can effectively balance mineral production with the protection of vulnerable species and irreplaceable natural resources,” said Steve Feldgus, principal deputy assistant US interior secretary for land and minerals management.
The Rhyolite Ridge plant includes a chemical processing facility for processing the lithium on site instead of shipping it to China, the world’s biggest producer of the mineral.
