financetom
Business
financetom
/
Business
/
US moves closer to approving ioneer's Nevada lithium mine
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US moves closer to approving ioneer's Nevada lithium mine
Apr 12, 2024 4:00 PM

April 12 (Reuters) -

The U.S. Bureau of Land Management (BLM) moved a step closer

on Friday to approving ioneer's Rhyolite Ridge lithium

mine in Nevada, a project that would be a key supplier of the

electric vehicle battery metal to

Ford Motor ( F )

and others.

The proposed mine, roughly 225 miles

(362 km)

north of Las Vegas, contains one of North America's largest

sources of lithium, and could produce enough of the metal to

power nearly 370,000 EVs each year.

The site is also home a

rare flower

found nowhere else on the planet, so some conservation

groups oppose ioneer's project, making it a lightning rod in the

debate over whether biodiversity matters more than the fight

against climate change.

The BLM said it plans to next week publish a draft

environmental impact statement for public review during a 45-day

public comment period, ending on June 3. The agency noted that

ioneer has redesigned

the mine to incorporate a protection plan for the flower.

The proposed lithium mine "represents another step by

the Biden-Harris administration to support the responsible,

domestic development of critical minerals to power the clean

energy economy," the BLM said in a press release.

The U.S. Fish and Wildlife Service declared the Tiehm's

buckwheat flower

endangered

in 2021. The U.S. Geological Survey has called lithium a

critical mineral vital for the U.S. economy and national

security. The U.S. Department of Energy has said it will

lend ioneer up to $700 million

to develop the mine.

During the review period, BLM said its staff will conduct at

least one in-person and one virtual public meeting on the

proposal.

Bernard Rowe, ioneer's managing director, said he

believed Friday's announcement reflected the company's

willingness to work with the government to protect the flower

and develop a domestic source of lithium.

"It really is a good demonstration of how, when parties

come together and work through challenges, there are solutions

that are possible," Rowe told Reuters.

The BLM said a final decision is expected by the end of

the year, after which ioneer would need to close a funding

agreement with the DOE and also with

South Africa's Sibanye Stillwater.

The Center for Biological Diversity (CBD), a

conservation group that has opposed the mine, said in response

to BLM's announcement that it would "take every available

measure to protect" the flower.

"This is another in a series of bizarre media stunts

that the Bureau of Land Management has concocted while it drives

the false narrative that it is conserving Tiehm's buckwheat,"

said the CBD's Patrick Donnelly.

The

mysterious death

of more than 17,000 Tiehm's buckwheat flowers near the mine

site in 2020 sparked allegations from conservationists of a

"premeditated" attack in which the plants were "dug up and

destroyed."

Australia-based ioneer denied harming the flowers. The

Fish and Wildlife Service later blamed

thirsty squirrels

.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Hutchmed Begins Registration Stage for Phase 2/3 Trial of Investigational Autoimmune Disorder Drug
Mar 22, 2024
05:04 AM EDT, 03/22/2024 (MT Newswires) -- Hutchmed ( HCM ) said late Thursday it has started the registration stage for a phase 2/3 clinical trial of investigational drug sovleplenib for adult patients with warm antibody autoimmune hemolytic anemia in China. The move follows positive data from the proof-of-concept phase 2 stage of the trial and a consultation with the...
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Cathie Wood's ARK Invest scoops up nearly 10,000 Reddit shares in debut
Mar 22, 2024
(Reuters) - Popular investor Cathie Wood's ARK Invest bought nearly 10,000 shares of Reddit ( RDDT ) in the social media platform's strong market debut on Thursday, an email from the asset manager showed. A total of 9,982 shares of the loss-making company was added to ARK Next Generation Internet ETF ( ARKW ) and ARK Fintech Innovation ETF (...
Japan's union group Rengo announces biggest wage hikes on record
Japan's union group Rengo announces biggest wage hikes on record
Mar 22, 2024
TOKYO (Reuters) -Japanese firms have agreed to raise pay by 5.25% this year, the biggest rise under comparable data since 2013, the country's largest union group Rengo confirmed on Friday. The results of the closely-watched wage negotiations are announced in several stages, in which the blue-chip firms are first to wrap up their talks in mid-March. The second announcement on...
Once a beacon of stability, Vietnam to name third president in a year
Once a beacon of stability, Vietnam to name third president in a year
Mar 22, 2024
HANOI, March 22 (Reuters) - Communist-ruled Vietnam is seeking its third president in little more than a year after the resignation of Vo Van Thuong, who was only elected last year after the sudden dismissal of his predecessor. With accumulated foreign direct investment higher than its gross domestic product, Vietnam's stability is crucial to multinationals with large operations in the...
Copyright 2023-2026 - www.financetom.com All Rights Reserved