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 of 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 life of the mine.

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, for the LoM.

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
The Bureau of Land Management (BLM) has approved ioneer’s plan of operations for its Rhyolite Ridge lithium/boron project.

The plan of operations is the foundational permitting document and will become the basis for compliance during operations and closure.

ioneer is hoping to be construction ready by the second quarter of 2021.

Key Contracts and Suppliers
Fluor (DFS).

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