(Kitco News) - Ioneer (Nasdaq: IONR) announced today that its Rhyolite Ridge lithium-boron project in Nevada has advanced into the final stage of federal permitting with the decision by the U.S. Bureau of Land Management (BLM) to publish a Notice of Intent (NOI) in the Federal Register.
"This marks a major milestone toward the completion of the National Environmental Policy Act (NEPA) process and approval of the project's plan of operations," the company said in its statement.
Ioneer noted that the plan of operations is the foundational permitting document for the project and will become the basis for compliance during operations and closure.
The company said it commenced work on the plan of operations almost four years ago. The latest revised plan was submitted to the BLM in July 2022. Under the revised plan, there are no project-related direct impacts to any of the subpopulations of Tiehm's buckwheat, it added.
Executive Chairman James Calaway commented, "We understand the Rhyolite Ridge project is the first lithium project to be issued a Notice of Intent under the Biden administration, and we see this as a significant step toward ensuring a strong domestic supply of critical minerals and strategic materials necessary for development of a domestic battery supply chain essential to the electrification of transportation in the U.S."
The company said BLM determined that the plan of operations was complete on August 17, 2022.
"However, BLM cannot approve the plan until an environmental review is completed under NEPA. With work on the plan completed and the NOI issued, the project moves into the public review and comment phase of the NEPA process," Ioneer noted.
Last year, Ioneer secured the two other key permits required to commence construction on Rhyolite Ridge: a state-based Air Quality Permit (received June 24, 2021) and a state-based Water Pollution permit (received July 19, 2021).
Ioneer is the 100% owner of the Rhyolite Ridge lithium-boron project located in Nevada, U.S., which is the only known lithium-boron deposit in North America and one of only two known such deposits in the world.
The company indicated that the definitive feasibility study completed in 2020 confirmed Rhyolite Ridge as a world-class lithium and boron project that is expected to become a globally significant, long-life, low-cost source of lithium and boron vital to a sustainable future.
In September 2021, Ioneer entered a subscription agreement with Sibanye-Stillwater to advance the Rhyolite Ridge project on a 50/50 basis, which remains to close.
The company has signed lithium offtake agreements with Ford Motor Company, PPES (joint venture between Toyota Motor Corporation and Panasonic Corporation) and EcoPro Innovation. Ioneer will be the operator of the project, which is expected to come onstream in 2026.
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