Ioneer’s expanded partnership with EcoPro to bolster U.S. lithium production
- The signing of the MOU between Ioneer Ltd and EcoPro Innovation Co Ltd provides an opportunity for Rhyolite Ridge to accelerate technical activities and the potential commercialization of the 1MT lithium carbonate equivalent (LCE) clay resource within the Rhyolite Ridge Lithium-Boron Project.
- EcoPro will fund and build a commercial-scale refining plant to develop lithium clay supplied from Rhyolite Ridge. The profits from the commercial refining plant will be equally shared between EcoPro and Rhyolite Ridge.
- Stage 1 of Rhyolite Ridge, which is in the final phase of U.S. federal review process, is expected to produce an annual average of approximately 20,600 tonnes of lithium carbonate and 174,400 tonnes of boric acid per year during the mine's 26-year life.
- The partnership between Ioneer and EcoPro aims to increase the supply of refined lithium materials for the U.S. EV battery supply chain and create hundreds of good-paying jobs in Nevada and beyond.
- None.
Highlights:
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Binding lithium clay Research and Development Memorandum of Understanding signed with Korea’s EcoPro Innovation Co. Ltd, a subsidiary of the EcoPro Group of Companies, will research, test, and develop lithium clay (M5) at Ioneer’s Rhyolite Ridge site in rural
Nevada . - The MOU provides an opportunity for Rhyolite Ridge to accelerate technical activities and the potential commercialisation of the 1MT (million tonnes) lithium carbonate equivalent (LCE) clay resource within the soon-to-be-permitted Rhyolite Ridge Lithium-Boron Project.
- The agreement includes the funding from EcoPro for a commercial lithium hydroxide refining plant once the process is successfully developed.
POHANG,
EcoPro will conduct research and development on the lithium clay resource – one of three distinct styles of lithium mineralisation found at Ioneer’s Rhyolite Ridge Lithium-Boron project (“Rhyolite Ridge”). The goal will be to develop a process to commercialise Rhyolite Ridge lithium clay to produce refined lithium materials for the
Stage 1 of Rhyolite Ridge focuses on searlesite (high lithium, high boron) mineralisation while the lithium clay mineralisation will be extracted and set aside. Stage 1 is in the final phase of
Ioneer Executive Chairman, James Calaway, said, “We are delighted to build upon our partnership with EcoPro. We look forward to accelerating development of another layer of Rhyolite Ridge mineralisation. This partnership provides Ioneer additional financial flexibility to focus on delivering its core investment at Rhyolite Ridge as well as develop growth opportunities. The ultimate goal of EcoPro and Ioneer is to increase the supply of refined lithium materials for the
EcoPro Innovation President Anthony Kim, said, “Lithium extraction technology is not just a process of selectively extracting lithium but a complex and difficult technology that requires removing uncertain impurities. EcoPro Innovation has an original patent for lithium extraction from waste batteries and launched its business in EcoPro Group. EcoPro Innovation is a technology-competitive company with a number of source patents in hydromet processes. We will perform well as soon as possible to gain the upper hand from other competitors.”
As part of the new agreement, EcoPro has agreed to fund and build a commercial-scale refining plant to develop lithium clay supplied from Rhyolite Ridge. The lithium clay raw material would be supplied at no cost to EcoPro, and the profits from the commercial refining plant would be equally shared between EcoPro and Rhyolite Ridge. Under the agreement, the MOU will be managed by a jointly developed Project Committee.
Once operational, Stage 1 of Rhyolite Ridge will quadruple the current
This ASX release has been authorised by Ioneer Managing Director, Bernard Rowe.
About Ioneer
Ioneer Ltd is the
In September 2021, Ioneer entered into an agreement with Sibanye-Stillwater where, following the satisfaction of conditions precedent, Sibanye-Stillwater will acquire a
To learn more about Ioneer, visit www.Ioneer.com/investors.
About EcoPro Innovation Co. Ltd
EcoPro Group is a global leader in battery materials manufacturing, supplying cathode/precursor/lithium hydroxide to automotive OEMs, Korean and Japanese cell manufacturers, and others. EcoPro Group has built a Closed Loop System which includes the recycling of used batteries to precursor, lithium hydroxide, and finally, high-nickel cathode active materials.
EcoPro Innovation Co Ltd is a subsidiary of The EcoPro Holdings, and the EcoPro Group includes EcoPro BM, EcoPro HN, EcoPro Materials, EcoPro AP, EcoPro EM, EcoPro CNG, and EcoPro Innovation. EcoPro BM develops and manufactures high-nickel cathode materials and other products. EcoPro BM is a company which leads the high-volume cathode material market in
1 Refer ASX release titled ‘ioneer Delivers Definitive Feasibility Study that Confirms Rhyolite Ridge as a World-Class Lithium and Boron Project’ announced 30 April 2020.
View source version on businesswire.com: https://www.businesswire.com/news/home/20231031579731/en/
Ioneer Contacts:
Chad Yeftich
Ioneer
Investor Relations (
E: ir@Ioneer.com
Daniel Francis
FGS Global
Media Relations (
E: daniel.francis@fgsglobal.com
Source: Ioneer Ltd
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