Ioneer Ltd (ASX:INR, OTC:GSCCF, NASDAQ:IONR) has reached a crucial milestone for its Rhyolite Ridge Lithium-Boron Project in Nevada. The Bureau of Land Management has released the final environmental impact statement (EIS), marking significant progress.

Ioneer Rhyolite Ridge Project EIS Finalized

The U.S. Fish and Wildlife Service concluded that the project would not jeopardize critical habitats, concluding the consultation process under the endangered species act. This achievement allows the project to move towards construction.

Boost to U.S. Lithium Production

Located in Esmeralda County, Nevada, the Rhyolite Ridge project is the first of its kind under the Biden Administration. It supports increasing U.S. lithium production and reducing dependence on foreign suppliers. The project will create approximately 400-500 jobs during construction and 250-300 during operation.

NEPA Permitting Process Completion

The EIS incorporates public feedback and details the project’s processing facility. It is a vital step in the national environmental policy act permitting process, achieved through collaboration with federal, state, local agencies, and Tribal Nations. A record of decision could be issued after a 30-day waiting period, allowing the project to proceed towards construction, aiming for production by 2028.

Market Impact

Ioneer’s shares surged by over 21% following the announcement, reflecting positive investor sentiment.

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