Australia’s lithium miner in the US, Ioneer, has advanced to final stages of a major government loan.
| Australian lithium miner Ioneer has advanced to the final stages of obtaining a cheap $US500 million loan from the US government that would reduce the funding costs for a new project symbolising the Biden administration’s agenda for greater self-reliance in the critical minerals supply chain.is set to produce as much as 800,000 tonnes of lithium over the next four decades which will find its way into the batteries used by thousands of electric vehicles.
Ioneer managing director Bernard Rowe said the loan significantly reduced the cost for a lithium producer that would have otherwise faced interest costs of up to 15 per cent. Last week the Biden administration released an update on its response to recommendations from a review of supply chains for four critical products, including high-capacity batteries.
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