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
ioneer expects to start production in 2025 to support urgent requirements for battery materials in the US.

Latest Developments
ioneer has signed a memorandum of understanding (MoU) with Shell Canada Energy for the supply of sulphur to ioneer’s Rhyolite Ridge lithium-boron project.

The MoU builds on a 2019 letter of intent and will result in both parties’ advancing discussions into a definitive agreement.

Under the MoU, ioneer will acquire up to 500 000 t/y of high-quality sulphur from Shell, fulfilling the estimated yearly sulphur requirement for the project.

Key Contracts, Suppliers and Consultants
Fluor (DFS).

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