#Biden backs #Nevada #Lithium mine with $700 million loan offer

A Nevada lithium mine that would be only the second in the US is getting backing from the Biden administration as it seeks to boost the domestic supply of the critical mineral needed to make electric vehicle batteries.

The Energy Department issued a conditional commitment for up to $700 million for Ioneer Ltd.’s Rhyolite Ridge Lithium-Boron Project, a prospective supplier to Ford Motor Co. and Toyota Motor Corp. that could produce enough lithium for 370,000 electric vehicles a year. Project partners include mining and metals processing group Sibanye Stillwater Ltd.

Read more at: https://www.mining.com/web/biden-backs-nevada-lithium-mine-with-700-million-loan-offer/

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s