StoryFunding
ioneer closes $996M US Department of Energy loan for Rhyolite Ridge
ioneer closed a $996M loan from the DOE Loan Programs Office for its Nevada lithium-boron project, $268M more than the 2023 conditional commitment. The money covers much of the build, but a final investment decision still had to follow.
- $968M principal plus $28M capitalised interest, 20-year tenor.
- Construction was then targeted for late 2025, first production for 2028.
- About 500 construction jobs and 350 permanent jobs were planned at that time.
- Offtake partners: Ford, Prime Planet Energy & Solutions, EcoPro Innovation.