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  January 20th, 2025 | Written by

US Invests $1 Billion in Domestic Lithium Supply with Rhyolite Ridge Project

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The United States is moving forward to secure its domestic lithium supply chain by approving a nearly $1 billion loan to ioneer, an Australia-based mining company, for its lithium processing facility in Nevada. This pivotal move, detailed by mining.com, is part of outgoing President Biden’s strategy to reduce US dependence on Chinese lithium, the market leader in lithium production and export.

The loan will facilitate the construction of a facility intended to produce 22,000 metric tons of lithium annually by 2028, strategically supplying automotive giants like Ford and other electric vehicle (EV) manufacturers. The US Energy Department loans, alongside ongoing mitigation efforts, aim to address such global shifts and ensure lithium resource security as part of a broader agenda to foster a sustainable and independent EV industry in the US.

Source: IndexBox Market Intelligence Platform