Ioneer has finalized a term sheet and offer of a Conditional Commitment1 for a proposed loan of as much as $700 million from the U.S. Department of Energy (DOE) Loan Programs Office for financing the construction of the Rhyolite Ridge Lithium-Boron Project in Nevada.
"Rhyolite Ridge is a major step towards bolstering domestic lithium production for clean energy technologies, and LPO is excited to further develop an environmentally responsible U.S. supply chain for critical materials,” said Jigar Shah, director of DOE’s Loans Programs Office.
The proceeds from the DOE loan, along with Sibanye Stillwater Limited’s expected equity contribution to secure a 50 percent stake in the Rhyolite Ridge Project once all conditions precedent for the joint venture have been fulfilled or waived are anticipated to fund a substantial part of the preliminary capital expenditure estimate from the revised plan of operations included in the application submitted to the DOE. Finalizing