The US Bureau of Land Management (BLM) cleared on Thursday one of the final regulatory hurdles for ioneer’s (ASX: INR) Rhyolite Ridge lithium mine in Nevada, a project that would be a key supplier of the electric vehicle battery metal to the local auto industry.
The proposed lithium mine, about 225 miles (362 km) north of Las Vegas, contains one of the largest sources of lithium in North America. It could produce enough of the metal to power nearly 370,000 electric vehicles per year.
The agency’s decision follows a review process spanning over more than six years, and is part of Washington’s ongoing efforts to strengthen domestic critical minerals production and counteract China’s dominance of battery mentals. If granted final approval, Rhyolite Ridge would be the first lithium project permitted by the Joe Biden administration.
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