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ioneer welcomes Biden Adminstration’s commitment to US domestic mining

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ioneer Ltd (ASX:INR) (FRA:4G1) (OTCMKTS:GSCCF) has welcomed the Biden Adminstration’s commitment to domestic mining and strengthening critical supply chains such as those used in EV’s, batteries and clean energy technologies.

The report released after the conclusion of a 100-day review of domestic supply chains indicates that the Administration has full support for responsible domestic mining projects like ioneer’s Rhyolite Ridge, and is committed to ensuring a secure and resilient domestic supply chain.

ioneer’s lithium project in Nevada will help meet a number of objectives set out by the Administration, including:

  • The project will create 400 to 500 construction jobs, 250 to 300 multi-generational family-supporting operating jobs, and several hundred more ancillary jobs to support the project;
  • It will produce key components for technologies to combat climate change, more than quadrupling current domestic production of lithium materials, needed for batteries powering the electric vehicle revolution;
  • It is strongly supported by the local communities as evidenced by letters of support submitted to the Bureau of Land Management (BLM) by each of the Esmeralda, Nye and Mineral County Commissions;
  • Once in operation, Rhyolite Ridge is expected to generate between US$13 million and US$31 million in annual fiscal revenue for state and local governments. The Project will provide important and sustained tax revenue to this region of Nevada;
  • Environmental justice has been a key objective of the project, including participating in formal consultation with and outreach to interested tribal bands; and
  • US environmental standards are among the most stringent and rigorously enforced in the world, and Rhyolite Ridge has undergone four years of intensive environmental review.

Committed steps towards production in US

Executive chairman James Calaway said: “We appreciate the Biden Administration for taking a whole of government approach and aggressively moving forward to address the clear need to bolster critical mineral production in the United States.

“The steps outlined today show a commitment and willingness to address this urgent need head-on.

“Our project in Nevada is shovel-ready with the approval of this administration.

“Rhyolite Ridge is the most advanced lithium development project in the US and will become a major domestic supplier of refined lithium products, with enough supply of lithium materials for 400,000 electric vehicles each year.

“Rhyolite Ridge provides a clear example of how the Administration can swiftly work to bring stakeholders together to ensure the project is approved with all the necessary safeguards in place.

“We look forward to continuing our work with the US Government to create hundreds of good-paying and rewarding jobs while helping solve the climate crisis.”

Story by ProactiveInvestors


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