PERTH (miningweekly.com) – Lithium developer ioneer has flagged plans for a secondary listing on a major US stock exchange.
The ASX-listed company told shareholders on Wednesday that the secondary listing was likely to take place in the second half of 2021 and was in line with ioneer’s longer-term strategy of increasing exposure to US markets.
ioneer is developing its Rhyolite Ridge lithium/boron project, in Nevada, where a definitive feasibility study estimated that it could produce 20 600 t/y of lithium carbonate, converting in the fourth year of operation to 22 000 t/y of battery grade lithium hydroxide and 174 000 t/y of boric acid, over a mine life of 26 years.
The project is expected to require a capital investment of $785-million, with a final investment decision due late in 2021.
By 2024, ioneer is expected to be the largest US producer of lithium and the second largest producer of boron.
“As we look ahead to the next phase of ioneer’s growth, we believe increased exposure to the US markets will be greatly beneficial to the company and its shareholders. Rhyolite Ridge is the most advanced lithium development asset in the US and there is a growing desire for US investors to invest in companies in the clean energy supply chain, which we’ve seen clearly demonstrated through strong interest in other US-listed lithium development companies,” said ioneer MD Bernard Rowe.
The company is now undertaking a review of the potential listing options, but the company said that there was no guarantee that a secondary listing would ultimately result.