NEW YORK: The US Department of Energy (DOE) has finalised a US$996mil loan for Ioneer’s Rhyolite Ridge lithium project, according to documents reviewed by Reuters, an increase of US$296mil from a preliminary funding offer and a move aimed at boosting President Joe Biden’s green energy legacy.
Scant US production of lithium, an ultralight metal used to make batteries for electric vehicles (EVs) and many consumer electronics, has left the country reliant on supplies from market leader China, an imbalance Biden has tried to offset during his four years in office.
