The U.S. Interior Department has granted final approval for Ioneer’s Rhyolite Ridge lithium mine in Nevada, marking the first domestic lithium source permitted under President Biden’s administration. Here are the key details:
Significance of Approval: This project is set to become a crucial supplier of lithium for electric vehicle manufacturers, including Ford. The approval concludes a lengthy six-year review process that involved debates over environmental concerns, particularly regarding the endangered Tiehm’s buckwheat flower found at the site.
Financial Backing: The approval unlocks a $700 million loan from the U.S. Department of Energy and a $490 million equity investment from Sibanye Stillwater, facilitating the project’s funding.
Project Impact: The mine is expected to produce enough lithium to power approximately 370,000 electric vehicles annually. Construction is slated to begin next year, with production expected by 2028, positioning Rhyolite Ridge among the largest lithium producers in the U.S.
Environmental Considerations: Despite the approval, conservation groups, including the Center for Biological Diversity, oppose the project, arguing it threatens the Tiehm’s buckwheat flower. They plan to sue the federal government to block the mine, citing concerns over biodiversity and the Endangered Species Act.
Government’s Position: Laura Daniel-Davis, acting deputy secretary of the Interior Department, emphasized that the decision was based on scientific assessments and included measures to protect the local ecosystem. The Bureau of Land Management stated that the project would create hundreds of jobs while implementing significant environmental protections.
Controversies and Challenges: The mine’s history includes a controversial incident in 2020 involving the death of over 17,000 Tiehm’s buckwheat flowers, which Ioneer denied causing. The government attributed the deaths to local wildlife.