Name of the Project
Rhyolite Ridge lithium/boron project.

Location
Nevada, US.

Project Owner/s
Emerging miner ioneer.

Project Description
Rhyolite Ridge ore reserves more than quadrupled from 60-million tonnes in 2020 to 247-million tonnes in June 2025, delivering a mine life of 95 years. The project will produce at least three saleable chemical products – lithium carbonate, lithium hydroxide monohydrate and boric acid.

The ore reserve contains a total of 1.92-million tonnes of lithium carbonate equivalent (LCE) and 7.68-million tonnes of boric acid equivalent, underpinning plans for a large, long-life, low-cost expandable operation, producing lithium carbonate, boric acid and then battery-grade lithium hydroxide.

The mine plan comprises almost entirely reserve material, with nearly 50% of that being proven ore reserves.

Rhyolite Ridge ore will be processed by vat acid leaching, impurity removal, evaporation, and crystallisation, following a flowsheet developed for this project using known and commercially proven equipment and technology.

By prioritising high boron ore in the first 25 years of production, the project is poised to produce an average of 19 200 t/y of LCE and 116 400 t/y of boric acid.

The resource remains open in three directions, allowing for a potential extension to the life-of-mine.

Potential Job Creation
About 400 to 500 jobs are expected to be created during construction and 250 to 300 jobs during operations.

Net Present Value/Internal Rate of Return
The project has compelling economics with an after-tax net present value of $1.37-billion, and an unlevered, after-tax internal rate of return of 14.5%.

Capital Expenditure
Total capital expenditure to complete the project is estimated at $1.67-billion, including a 10% contingency.

Planned Start/End Date
First production is expected within 36 months of a final investment decision.

Latest Developments
ioneer has secured commitments to raise about A$25-million ($16-million) through a share placement to fund work at the project.

The company will issue about 253-million new shares at A$0.10 ($0.065) apiece, representing a 13% discount from its previous closing price on June 10. The placement received strong support from new and existing institutional investors, ioneer has said.

The funds will help advance the project towards a final investment decision, including environmental and permitting work, project-readiness activities and general corporate purposes.

The company will also offer eligible retail shareholders, in Australia and New Zealand, the opportunity to subscribe for up to A$30 000 of new shares under a share purchase plan, aiming to raise an additional A$5-million ($3.3-million) at the same offer price.

Key Contracts, Suppliers and Consultants
Fluor (definitive feasibility study).

Contact Details for Project Information
ioneer, tel +61 2 9922 5800 or email ir@ioneer.com.