In an announcement spotted by Bloomberg, the Department of Energy is in Esmeralda County, Nevada. Rhyolite Ridge Lithium-Boron Projects said it would provide a contingent loan of up to $700 million to Ioneer, a mining company, to develop
When the mine becomes operational, approximately 370,000 electric vehicles It is expected to produce enough lithium for Ioneer already has supply agreements with automakers like Ford and Toyota, but the project probably won’t start producing lithium until 2026.
The new favorite of the USA was lithium! Lithium-extracting countries beware!
The Biden administration made the financing available through the Department of Energy’s Advanced Technology Vehicle Manufacturing Loan Program. Ioneer’in To secure the money, it must obtain all necessary permits from the relevant state and federal agencies. Biodiversity Center, in the region Tiehm opposed the project because of the risks it poses to an endangered wildflower species known as buckwheat. The US Department of the Interior also approached the project negatively for the same reason. The Department of Energy, on the other hand, said Ioneer is revising its site plans to avoid direct impacts on the plant. With this, of lithium mining It is worth noting that for its realization it requires a lot of water.
Yet the mineral is essential for many technologies needed to move the world into a zero-emissions future. Moreover, lithium supply It is expected to remain below global demand by 2030. This gap will make it difficult for the Biden administration to meet its goal of having half of all cars sold in the US be electric vehicles by the end of the decade.