Name of the Project
Rhyolite Ridge lithium/boron project.

Location
Nevada, in the US.

Project Owner/s
ioneer.

Project Description
A definitive feasibility study (DFS), completed in April 2020, has placed Rhyolite Ridge as the single-most attractive project for the production of lithium carbonate, lithium hydroxide and boric acid globally.

The lithium and boron mineral resource is estimated at 146.5-million metric tonnes, including an ore reserve of 60-million metric tonnes, an increase in the reserve from the previous estimate of 280% over the 26-year life-of-mine (LoM).

The mine plan comprises almost entirely reserve material, with nearly 50% of that being proven ore reserves.

The resource remains open in three directions, allowing for a potential extension to the LoM.

The project will mine 2.5-million metric tons a year of ore over the LoM to produce about 20 600 t/y of lithium carbonate, or about 22 000 t/y of lithium hydroxide and 174 400 t/y of boric acid, on average.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The project has an after-tax net present value, at an 8% real discount rate, of $1.265-billion and an unlevered internal rate of return of 20.8%, with a payback of 5.2 years from the start of first production.

Capital Expenditure
The DFS estimates that the total capital expenditure to complete the project will be $785-million, including an 8% contingency.

This represents an increase of $186-million from the PFS.

Planned Start/End Date
The project schedule has a total duration of 41 months from the start of the engineering, pro­curement and construction management phase to final completion, with first product shipment expected in the second quarter of 2023.

Latest Developments
ioneer has announced plans for a A$60-million capital raise to accelerate construction of the Rhyolite Ridge project.

Proceeds will be used to fund advance detailed engineering and vendor engineering, environmental research and consulting expenses, discretionary substantive preconstruction activities and working capital.

ioneer has continued to make significant progress in derisking the project since completion of the bankable feasibility study by advancing engineering work to a near construction-ready stage.

Several critical milestones have been achieved, including the submission of the Rhyolite Ridge plan of operations, forming a partnership with Caterpillar regarding equipment and services to be used at the project, and the successful production of battery-grade lithium hydroxide at ioneer’s pilot plant.

ioneer is hoping to be construction ready at the end of 2021.

Key Contracts, Suppliers and Consultants
Fluor (DFS).

Contact Details for Project Information
ioneer, tel +61 2 9922 5800.