Australia's Ioneer ties up with two South Korean firms for Nevada lithium project
Australian lithium miner Ioneer said on Tuesday it has tied up with Korea Overseas Infrastructure & Urban Development and Hyundai Engineering to support the development of its Rhyolite Ridge project in Nevada.
Shares of Ioneer rose 12.5% to A$0.158, their highest since May 15, while the broader benchmark index was up 0.3%, as of 00:04 GMT.
Rhyolite Ridge hosts the only known lithium-boron reserve in North America and is one of two globally, according to Ioneer. It is also the only project of its kind currently in development, the lithium-boron producer said in a statement.
Ioneer, Korea Overseas Infrastructure & Urban Development and Hyundai Engineering plan to formalise their cooperation through memorandums of understanding in July 2026, the Australian company said.
Ioneer said the agreements would strengthen its relationship with South Korea, following its 2021 supply agreement with EcoPro Innovation.
The letters of intent are non-binding and do not create legally enforceable obligations, and there is no certainty that definitive agreements will be reached, Ioneer said on Tuesday.
Ioneer has invested more than $220-million in the project since 2016 and has completed over 70% of its advanced engineering work.
The company is targeting a final investment decision in the second half of 2026, with first commercial production expected in 2029.
Once operational, the project is expected to produce 27 800 tons a year of lithium hydroxide and 135 500 tons a year of boric acid, with all processing conducted on site.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
The Aluminium Federation of South Africa (AFSA), is the voice of the South African aluminium industry.
VISIT SHOWROOM
Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
