Ioneer Ltd has signed a Memorandum of Understanding (MOU) with EcoPro Group of Companies subsidiary EcoPro Innovation Co. Ltd to research, test, and develop lithium clay at Ioneer’s Rhyolite Ridge Lithium-Boron project.
The partnership aims to develop a process to commercialise Rhyolite Ridge lithium clay to produce refined lithium materials for the U.S. EV battery supply chain.
The first stage of Rhyolite Ridge’s development focuses on searlesite mineralisation, with lithium clay mineralisation being extracted and set aside. The final phase of the U.S. federal review process is underway, with Ioneer expected to produce around 20,600 tonnes of lithium carbonate and 174,400 tonnes of boric acid annually during the mine’s 26-year life.
“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 U.S. EV supply chain and create hundreds of good-paying jobs in Nevada and beyond,” Ioneer Executive Chairman James Calaway said.
EcoPro Innovation President Anthony Kim stated, “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 several source patents in hydromet processes. We will perform well as soon as possible to gain the upper hand from other competitors.”
Under the MOU, EcoPro will fund and establish a commercial-scale refining plant for developing lithium clay from Rhyolite Ridge, with the profits shared equally between EcoPro and Rhyolite Ridge. The agreement will be managed by a jointly developed Project Committee, with the lithium clay raw material supplied at no cost.
Rhyolite Ridge’s Stage 1 will triple the U.S. lithium supply and balance global boric acid production. Construction, funded by $490 million equity from Sibanye-Stillwater and a $700 million loan from the U.S. Department of Energy’s Loan Programs Office, is set to begin in 2024, with lithium production expected in 2026. The project is expected to be completed after the U.S. federal permitting process.
