Rosen Applauds Department of Energy Commitment to Loan $700 Million to Nevada Lithium Mine

WASHINGTON, DC — U.S. Senator Jacky Rosen (D-NV) applauded news that the U.S. Department of Energy is committing to lend Ioneer Ltd. up to $700 million to mine lithium and boron from the Rhyolite Ridge project in Esmeralda County, Nevada. This project will bolster the domestic critical mineral supply chain which is necessary for the increased production and adoption of electric vehicles (EVs) across the U.S., while employing Nevadans.

The Rhyolite Ridge project would finance the on-site processing of lithium carbonate that could potentially support production of lithium for approximately 370,000 EVs each year. It’s also projected to create up to 600 construction jobs and approximately 250-300 operations jobs. This will be the first lithium-boron project in the world and the second operational lithium project in the United States to support the production of EVs.

“As one of the few places in the United States with an abundance of lithium and other critical minerals, Nevada is central to strengthening our domestic clean energy supply chain and making electric vehicles more available and accessible,” said Senator Rosen. “I applaud the Energy Department for providing this loan to help support the mining and processing of Nevada’s critical minerals, help reduce greenhouse gas emissions, and contribute to the creation of jobs in our state.”

Senator Rosen has been a leader in securing the domestic critical minerals supply chain and advocating for clean energy technologies. Senator Rosen’s provision to promote the use of critical minerals and develop a secure and reliable critical mineral supply chain was included in the CHIPS and Science Act, which became law last year. Senator Rosen also helped secure over $7 billion in the Bipartisan Infrastructure Law to strengthen the U.S. battery supply chain including for the sourcing, production, and recycling of critical minerals.