Reported about 6 hours ago
President Biden has finalized a $996 million loan for Ioneer's Rhyolite Ridge lithium project in Nevada, increasing funding to bolster U.S. lithium production and support the green energy initiative. This new loan, which is almost 50% larger than a previous commitment, aims to supply lithium for electric vehicle manufacturing by 2028, as the U.S. seeks to reduce dependence on foreign sources, particularly from China. Construction is set to begin later this year, with the project projected to produce 22,000 metric tons of lithium annually.
Source: YAHOO